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Litecoin Creator Charlie Lee Sold All His Litecoin

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Litecoin creator Charlie Lee sells all of his holdings in Litecoin 

Litecoin creator Charlie Lee, the former director of engineering at Coinbase, sells almost all of his holdings in Litecoin (LTC), the cryptocurrency he founded in 2011. He explained in a post on Reddit that he sells all of his LTC coins – except for a number of physical coins he keeps as collectibles – to avoid the conflict of interest that comes with his influence and position as founder of Litecoin.
Thanks to his time at Coinbase and LTC, Lee is considered a key influence in the crypto space and has garnered over 378,000 followers on Twitter, where his hand is @SatoshiLite. Although he said he was reluctant to tweet directly about LTC prices, he acknowledged that his tweets were criticized in some ways as manipulating the price, despite any interest. It further acknowledges that his position was a conflict of interest.
Charlie Lee creators of LiteconLitecoin
“Every time I write on Twitter about the price of Litecoin or even about good or bad news, I am accused of doing this for personal gain. Some people even think I have short LTC! In a way, it’s a conflict of interest for me to keep LTC and tweet about it because I have so much influence.
I’ve always refrained from buying/selling LTC before or after my major tweets, but that’s all I know. And there will always be a doubt that any of my actions have promoted my own personal wealth above the success of Litecoin and cryptocurrency in general, ”Lee wrote.

Read and: Charlie Lee Resigns From Coinbase to Focus on Litecoin

We don’t know how many LTCs Lee owned and sold, but now he says he’s focusing on developing the cryptocurrency itself. “Just don’t worry. I won’t give up Litecoin. I will continue to spend all my time working on Litecoin. When Litecoin succeeds, I will continue to be rewarded in many different ways, not just by holding coins.

Now I think that this is the best way for me to continue to monitor the growth of Litecoin, ”he added. Keep in mind that Lee’s brother Bobby is the founder of China’s largest barter exchange, BTCChina, so this is definitely a strong crypto family.
Like Bitcoin, Ether, Litecoin has grown exponentially this year. According to Coinmarketcap.com, it was the fifth-largest cryptocurrency in the world, reaching $ 330.14 per coin at the end of 2017, up more than 75X from just $ 4.36 on January 1, 2017.
Currency trading volumes also reached unprecedented levels at the end of 2017, as shown in the chart below. Over $ 2 billion in LTC has been traded in the last 24 hours, according to Coinmarketcap.com.
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