Fake news: Litecoin price surges 35% following Walmart adoption hoax
"The Litecoin Foundation has yet to enter into a partnership with Walmart," said Jay Milla. The price of Litecoin rose to more than $237 this morning following erroneous reports from major news outlets that U.S. retailer Walmart would be introducing a payment option for the cryptocurrency on all its eCommerce websites.CNBC, Reuters, Decrypt and others reported on Monday that Walmart planned to have a “Pay with Litecoin Option” for its retail websites starting on Oct. 1 as part of a partnership with the Litecoin Foundation, the organization financing and promoting adoption of the Litecoin....
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Litecoin has recorded massive price movement in the past hour. The coin started to rally after Reuters had reported that retail giant Walmart would begin accepting the cryptocurrency as payment for purchases. The news broke on Monday with a press release that stated Walmart had partnered with Litecoin to allows customers to make payments with LTC. The news triggered a price surge that saw the price of Litecoin grow 30% in a single hour, breaking a three-month high of $237. Before the news broke, Litecoin has been trading in the mid-$170s at $175. News of the Walmart partnership over $60 in....
Following the fake news of its partnership with Litecoin, Walmart Inc. says it is looking into how the fraudulent press release was issued. The Litecoin Foundation and Charlie Lee are also investigating the matter. In addition, Globenewswire says it will also work with authorities “to request – and facilitate – a full investigation, including into any criminal activity associated with this matter.” Walmart Responds to Fake News of Its Partnership With Litecoin The retail giant issued a press release in response to the fake news of its partnership with Litecoin....
Litecoin recorded a 35% and 28.6% profit in the 1-hour and 24-hour charts, respectively, after major mainstream media websites reported a fake LTC integration into Walmart e-commerce stores. According to the fake press release, the company was going to allow its “millions of shoppers” to leverage crypto payments with LTC. The fake Litecoin integration was […]
Litecoin has recently been in the middle of recent controversy. News broke out on Monday that retail giant Walmart had partnered with Litecoin to start accepting payments in the cryptocurrency. The official-looking press release from both GlobeNewswire and Reuters was shared by major media outlets. And more importantly, was shared by the official Twitter account […]