He won't say how many coins he had, but all of Litecoin founder Charlie Lee's share in the cryptocurrency has been sold or donated.
In a Reddit post early Wednesday, Lee explained how his stake in Litecoin is a conflict of interest: "Whenever I tweet about Litecoin price or even just good or bads [sic] news, I get accused of doing it for personal benefit," he wrote.
SEE ALSO:2018 will be the year of Bitcoin's rivalsEven though Lee sold all his coin, he's still very much involved in his currency. "I’m not quitting Litecoin," he assured in his note.
Tweet may have been deleted
Lee's announcement comes just after the exchange Coinbase announced support for Bitcoin Cash, a Bitcoin off-shoot. With that announcement came worries about insider trading within Coinbase. Lee had a busy morning on Twitter correcting misconceptions that he dumped Litecoin and other currencies due to insider trading.
Tweet may have been deleted
Lee was particularly incensed by a MarketWatch article that he thought inaccurately made it seem like his Litecoin sale was because of insider trading.
Tweet may have been deleted
We reached out to Lee and Litecoin, but haven't heard back yet.
Litecoin dropped nearly $50, or 13.8 percent, since Tuesday. As of Wednesday afternoon it was at $311.26.
Here's Lee's whole statement:
Over the past year, I try to stay away from price related tweets, but it’s hard because price is such an important aspect of Litecoin growth. And whenever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. 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. I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. 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.
For this reason, in the past days, I have sold and donated all my LTC. Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s not stored in a physical Litecoin. (I do have a few of those as collectibles.) This is definitely a weird feeling, but also somehow refreshing. 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. I now believe this is the best way for me to continue to oversee Litecoin’s growth.
Please don’t ask me how many coins I sold or at what price. I can tell you that the amount of coins was a small percentage of GDAX’s daily volume and it did not crash the market.
UPDATE: 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.
TopicsCryptocurrencyInnovations
(责任编辑：休閑)
Nancy Pelosi warns colleagues after info hacked
Missing the Defender? Land Rover can now sell you a factory
Chelsea Handler calls Trump a 'butt hole' with the NSFW visuals to prove it
Are you a professional Aussie bogan? This company is looking for you.Did our grandparents have the best beauty advice?Hiddleswift finally followed each other on Instagram after 3 excruciating days
On Aug. 13, 1961, Germany began construction of the Berlin Wall, perhaps the greatest symbol of the
...[详细]
Paying for Wi-Fi in a hotel room is an archaic practice.Wi-Fi should be free for everyone, as it's b
...[详细]Amazon Echo is finally in Best Buy
No one knows how many Amazon Echo devices Amazon has sold, but the number is almost certain to grow
...[详细]Bryan Adams cancels Mississippi show because of anti
First came Bruce Springsteen, then came Bryan Adams.The rocker is canceling an upcoming show in Miss
...[详细]Donald Trump's tangled web of Russian influence
Donald Trump has had ties to Russia for decades, but they've thickened as his campaign for the White
...[详细]
For people who despise early hours, sometimes the sight of a fresh cup of coffee can be as exciting
...[详细]The Bible may have been written earlier than thought, pottery reveals
Keyparts of the Old Testament may have been compiled earlier than some scholars thought, suggests a
...[详细]Is the Tesla Model 3 hype for real?
This week on MashTalk, we look at Tesla's successful launch of the Model 3 and debate whether the hy
...[详细]Tourist survives for month in frozen New Zealand wilderness after partner dies
A tourist from the Czech Republic, whose partner fell to his death, survived a harrowing month in th
...[详细]Bruce Springsteen cancels North Carolina show in response to anti
Bruce Springsteen has canceled a Sunday show in Greensboro, North Carolina, in response to House Bil
...[详细]