Litecoin creator attributes tweeting about Walmart deal to 'over-excitedness'
Says Litecoin tweeted about Walmart deal 'in error'
The SEC already appears to be targeting crypto. By sharing this news, Litecoin essentially confirmed it. In doing so, the price was pushed higher and people had a reason to buy it.
The SEC is going to come knocking. One argument is that Litecoin officials themselves could have believed Walmart made the decision themselves. Because of the nature of crypto and Litecoin, Walmart wouldn't have to work with or inform Litecoin of the decision. They could do it unilaterally.
"The @litecoin handle, we have three people who control that and one of the people this morning, before I woke up, saw the GlobeNewswire [press release] and saw Yahoo News posting it and CNBC posting it and he thought it was true because he didn't know better," Lee said. "Pretty soon after that he realized he had made a mistake, that it was fake and he deleted it."