12/20/2017, 10:00 AM (Source: TeleTrader)
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Litecoin founder sells all his litecoins

Litecoin (LTC) founder and the former director of engineering at Coinbase Charlie Lee sold and donated all of his litecoins, cryptocurrency influencer wrote in a post on Reddit on Wednesday. Lee stated that owning LTC and tweeting about it represents a conflict of interest.

" [...] 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.)," Lee said assuring that he is "not quitting Litecoin" and will spend all of his time working on it. Litecoin founder also stressed that he wrote the post prior to the halt of bitcoin cash trading on Coinbase earlier in the day just four minutes after it was enabled. The Litecoin founder added he is not pumping the bitcoin spin-off digital currency for personal interest.

Charlie Lee is known for his influence in the cryptocurrency sphere, with a Twitter following of 379,000 people. Lee's brother, Bobby, is the founder of BTCChina, the largest Chinese bitcoin exchange.

Breaking the News / BM