CandleFocus Avalanche News: Allegations of Centralization Raised by Crypto Leaks – Is AVAX at Risk?
2024-10-17
Author: Content Editor
The Avalanche Foundation has reacquired 1.97 million AVAX tokens, but the network is now facing scrutiny over centralization concerns. Crypto Leaks published a report alleging that Ava Labs, the company behind Avalanche, has significant control over the network and runs a large number of validating nodes. The report also raises concerns about the network's leadership due to CEO Emin Gün Sirer's six-month absence in Turkey. The allegations could have serious implications for Avalanche, including potential classification as a security and vulnerability to price manipulation. As of now, AVAX is trading at $27.63, with a slight decrease in the past day but an increase in the past week.
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