{"id":49395,"date":"2021-09-14T10:09:04","date_gmt":"2021-09-14T07:09:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49395"},"modified":"2025-09-02T12:26:54","modified_gmt":"2025-09-02T09:26:54","slug":"litecoin-founder-charlie-lee-comments-on-fake-walmart-news","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/litecoin-founder-charlie-lee-comments-on-fake-walmart-news\/","title":{"rendered":"Litecoin founder Charlie Lee comments on fake Walmart news"},"content":{"rendered":"<p>Charlie Lee, executive director of the nonprofit Litecoin Foundation, on <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-13\/litecoin-foundation-screwed-up-lee-says-about-walmart-snafu?sref=AACmJ2tc\">Bloomberg TV<\/a> confirmed that the foundation retweeted a fake news story about a Walmart partnership the day before.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe are doing our best not to tweet fake news, but this time we really messed up. This has nothing to do with us, and we will try to find out who did this,\u201d Lee said.<\/p>\n<\/blockquote>\n<p>On Monday, September 13, <a href=\"https:\/\/forklog.com\/en\/news\/walmart-denies-partnership-with-the-litecoin-foundation\">a press release on behalf of Walmart<\/a> announced a partnership with the Litecoin Foundation, under which the retailer would begin accepting the foundation-supported cryptocurrency from October 1. The veracity of the statement drew questions in the community.<\/p>\n<p>The news appeared on Litecoin&#8217;s verified Twitter account, but it was quickly removed. However it had already spread to the media, including Reuters, Bloomberg and CNBC.<\/p>\n<p>Both organisations denied the partnership. But in the wake of it, Litecoin&#8217;s price rose more than 35%, before tumbling sharply.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"382\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/LTCUSD_2021-09-14_10-16-25-1024x382.png\" alt=\"Hourly LTC\/USD chart on Bitstamp.\" class=\"wp-image-149222\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/LTCUSD_2021-09-14_10-16-25-1024x382.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/LTCUSD_2021-09-14_10-16-25-300x112.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/LTCUSD_2021-09-14_10-16-25-768x287.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/LTCUSD_2021-09-14_10-16-25.png 1326w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly LTC\/USD chart on Bitstamp. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/LTCUSD\/?exchange=BINANCE\">TradingView.<\/a><\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI woke up this morning and found that Walmart was accepting Litecoin, and I thought, \u2018Wow, that\u2019s cool\u2019. But it turned out to be fake. We did not have a partnership,\u201d Lee commented on the incident.<\/p>\n<\/blockquote>\n<p>According to him, Litecoin is \u201cused quite frequently\u201d for payments, and any retailer can start accepting it without prior discussion with the foundation. According to Lee, the daily volume of cryptocurrency transfers is around $3 billion.<\/p>\n<p>He added that forged press releases are occasionally published in traditional markets.<\/p>\n<p>As noted, Litecoin is among the four cryptocurrencies that <a href=\"https:\/\/forklog.com\/en\/news\/paypal-to-enable-buying-selling-and-holding-bitcoin-and-other-cryptocurrencies\">are supported<\/a> by PayPal&#8217;s digital assets payments service. Since 2020, the service has been available to residents of the United States, and in August 2021 <a href=\"https:\/\/forklog.com\/en\/news\/paypal-opens-access-to-cryptocurrencies-for-uk-customers\">it expanded to the United Kingdom<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Charlie Lee, executive director of the nonprofit Litecoin Foundation, on Bloomberg TV confirmed that the foundation retweeted a fake news story about a Walmart partnership the day before.<\/p>\n","protected":false},"author":1,"featured_media":49396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2099,1209,209,2233],"class_list":["post-49395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-charlie-li","tag-fake-news","tag-litecoin","tag-walmart"],"aioseo_notices":[],"amp_enabled":true,"views":"49","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=49395"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49395\/revisions"}],"predecessor-version":[{"id":49397,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49395\/revisions\/49397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/49396"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=49395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=49395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=49395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}