Litecoin creator Charlie Lee has revealed on social media that he sold and donated all his LTC holdings over the past few days. The announcement was meant to show he no longer has a conflict of interest in promoting the altcoin but the timing has sparked some backlash against Lee.
Going Light on Litecoin
Founder of litecoin Charlie Lee has informed the community today that he no longer has any meaningful direct exposure to the cryptocurrency, having sold and donated all his LTC holdings in recent past days. Writing on Reddit he explains that this was done to avoid the appearance of a conflict of interest when promoting LTC as someone with so much social influence.
Lee reassures his followers that this does not mean he is quitting litecoin and will still spend all his time working on the cryptocurrency he created. Lee also explains that he will continue to benefit from the growth of litecoin – just not by holding the cryptocurrency itself.
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