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Litecoin Founder Charlie Lee Sells All His Litecoin

Charlie Lee Sells All His Litecoin

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Charlie Lee Sells All His Litecoin


The founder of Litecoin Charlie Lee sells all his litecoin! And we say what a great gesture of integrity.

Through his post on Reddit, Charlie made an announcement, where he made it public that he has sold all of his holdings in LTC, just to avoid any conflict of interests in the future. 

In his post he stated:

"Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence."

He said–in his post–that he has been accused of manipulating the price of LTC, in order to inflate or deflate the prices, by tweeting accordingly. He further added that he has always refrained from making any trades before or after any of his tweets.

"And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of Litecoin and crypto-currency in general."

- Charlie Lee

Charlie said that these doubts will always lurk around, as long as he held LTC with him, and that's why he sold all of his LTC in the past few days.

He made it very clear that Litecoin has been great for him financially so far, and now his financial success does not directly depend on Litecoin's success.

But he also made it crystal clear that he hasn't parted ways with Litecoin in any way, and will continue to work towards the success of Litecoin and also cryptocurrency industry as a whole.

"Don’t worry. I’m not quitting Litecoin. I will still spend all my time working on Litecoin. When Litecoin succeeds, I will still be rewarded in lots of different ways, just not directly via ownership of coins."

- Charlie Lee

It's not fair at all as Charlie did what he thought would clear up his name from all the conspiracy theories, of him being involved in market manipulations, as now people have started to accuse him of pumping Bitcoin Cash.

They say that, Charlie Lee wanted to pump Bitcoin Cash and that's the reason he sold his LTC holdings. 

Charlie later updated his post where he said that whatever he tries to do, he finally gets blamed:

"I wrote the above before the recent Bcash on GDAX/Coinbase fiasco. As you can see, some people even think I’m pumping Bcash for my personal benefit. It seems like I just can’t win."

- Charlie Lee