Ava Labs founder wins defamation lawsuit against Emre Aksoy and is awarded $3 million in damages.

BlockBeats reported on May 2 that Emin Gün Sirer, founder and CEO of Ava Labs, won a defamation lawsuit against cryptocurrency KOL Emre Aksoy and will receive $3 million in compensation. The lawsuit stemmed from Aksoy's claims in a February 2021 YouTube video linking Sirer to the Fethullah terrorist organization in Turkey. The lawsuit stated that Aksoy was described as a "marketing expert" who was hired to promote Ava Labs' competitors. According to Sirer, the defamation caused him to lose millions of dollars and led to a 57% drop in AVAX token price from its high of $55.51 on February 11, 2021, to $23.85 by the end of the month. (Cointelegraph)