Litecoin Creator Charlie Lee Exposes He Sold All His Litecoin – Bitcoin News
Litecoin creator Charlie Lee has exposed on social media that he sold and donated all his LTC holdings overheen the past few days. The announcement wasgoed meant to voorstelling he no longer has a conflict of rente ter 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 meteen exposure to the cryptocurrency, having sold and donated all his LTC holdings te latest past days. Writing on Reddit he explains that this wasgoed done to avoid the appearance of a conflict of rente when promoting LTC spil 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 proceed to benefit from the growth of litecoin just not by holding the cryptocurrency itself.
A Question of Timing
Te his announcement Lee explains that overheen the last year he attempted to avoid making public statements on Twitter about the price of litecoin spil he would always be accused of doing so to shove the price up or down te order to improve his private position te the markets. He also explains that he is now so well off that he doesn’t need to have more financial gains from holding LTC and can afford to make this budge.
Unluckily not everyone te the cryptocurrency community, which is hardly known for its civil debates at the best of times, is accepting of Lee’s rationale. His timing of the announcement, so soon after Coinbase and Gdax added Bitcoin Contant (BCH) trading, is the main source of the backlash. Lee only left Coinbase back ter June where he wasgoed the Director of Engineering.
Should all cryptocurrency influencers go after this budge to show up unbiased, or is it better for them to have a stake ter their coin’s future? Share your thoughts te the comments section below!