Monday Litecoin (CRYPTO: LTC) Go up thanks to a fake press release about its non-existent association with Wal-Mart Corporation (New York Stock Exchange: WMT) is a wake-up call not to take “these things too seriously”, as it says Dogecoin (CRYPTO: DOGE) Co-creator Billy Marcus.
What happened: Marcus responded to the fake news from LTC-Walmart and noted that several major media outlets had reported a false story. He also noted that the gains on LTC wiped away within minutes.
See also: How to buy Litecoin (LTC)
A fake article has been published about Walmart’s association with Litecoin
– Many mainstream media are talking about a false story.
Litecoin increased in value by 25% in BS
– The story was revealed
Earnings erased in minutes
There are good reasons not to take these things seriously.
– Shibitoshi Nakamoto (@ BillyM2k) September 13, 2021
Former hedge fund manager and bitcoin investor Michael Novogratz Laugh at those who bought LTC on the Walmart news.
The men who bought Litecoin dollars On Walmart News. https://t.co/xdbmhjN7oc
– Mike Novogratz (@novogratz) September 14, 2021
David jokstein, founder of Gokhshtein Media who was formerly chirp CNBC’s story at Walmart accepts payments with LTC but also question If the news is true, he said that the cryptocurrency has alarmed him.
I got bumpy before Litecoin dollars This morning.
– David Gokhshtein (@davidgokhshtein) September 13, 2021
Businessman Anthony Pompliano to Bitcoin (CRYPTO: BTC) He said the US Department of Justice will search for the people responsible for the bogus press release, but that the focus should be on regulating the media.
Everyone is yelling and yelling about crypto industry regulation after this morning’s bogus press release.
The Justice Department will search for those responsible.
But you have to debate who regulates the media for not being diligent before publishing. 👀
– Bomb (APompliano) September 13, 2021
Why that matters: Charlie lee, creator of Litecoin and managing director of Litecoin Foundation recognized in interviewing with Bloomberg, the organization “failed” after one of its employees retweeted what was a fake ad.
See also: Earnings Lock Hurts Cardano’s ‘Ethereum Killer’ As Smart Contract Startup
He said: “We are doing our best not to spread fake news on Twitter, and this time we really failed,” adding: “He denies that he has anything to do with us and we will do our best to find out who did it.” – and we will stop the spread of fake news. “
As for Walmart, the company has also taken to Twitter denying its relationship with LTC and also issued a full statement.
An incorrect press release issued today stated that Walmart falsely announced a partnership with Litecoin (LTC). Walmart has nothing to do with Litecoin. Our full statement is here. https://t.co/BdjTWP2lHC
Walmart Inc. September 13, 2021
price movement: LTC is trading 0.37% higher at $ 178.48 at press time. The cryptocurrency is down 23.41% from its daily trading peak of $ 233.06.
Read the following: Bitcoin, Ethereum, and Dogecoin remain under attack, but ‘Hodlers’ are unfazed by recent sell-off