Charlie Lee to sell his Litecoins

Let's check how this news affected the price of "digital silver"
20 December 2017   1971

The founder of the Litecoin, Charlie Lee, said that he had sold all his coins because he did not want to be accused of personally influencing the price fluctuations. The corresponding statement was made on Reddit

As Charlie writes, over the past year he has tried not to write tweets that are related to the price of crypto currency, but this in itself is quite difficult because price is a very important aspect of the growth of Litecoin.

And whenever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence.

Charlie Lee

Creator of Litecoin

He also insists that he always refrained from buying or selling LTC before or after he published important tweets. However, says Charlie Lee, there will always be doubts as to whether his actions are aimed at personal enrichment to the detriment of Litecoin's success and crypto-currency in general.

For this reason, 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.) 

Charlie Lee

Creator of Litecoin

 At the same time, he emphasizes that he does not leave Litecoin and will continue to devote all his time to this work. He also refused to disclose the exact amount of coins sold, assuring that this amount is only a small percentage of the daily volume on the GDAX exchange (about $ 550 million) and the sale did not lead to a collapse of the market.

Litecoin Price

Let's figure out, what influence this news have on the LTC price. 

Litecoin Price Chart
Litecoin Price Chart

Litecoin lost about 8% in last 24h, but still gained about 6% for 7 days. At the moment of press, these are the main market parameters:

  • Average Price $330,37
  • 24h Volume $2 083 310 000
  • Market Cap $17 968 140 070

Charlie Lee to Join Sun at Dinner With Buffet

TRON founder sent out invitations to meet with Buffett to several famous personalities from the world of crypto and Charlie agreed to meet
17 June 2019   389

Litecoin creator Charlie Lee is likely to join Justin San's meeting with billionaire and legendary investor Warren Buffet.

Sun sent out invitations to meet with Buffett to several famous personalities from the world of cryptocurrencies. Charlie Lee was among those who agreed to participate in the tenth Power of One charity dinner. In the invitation tweet, the founder of TRON described the creator of Litecoin as a good friend.

Lee thanked Justin and said that he was excited about the opportunity to meet with the legend of the world of traditional finance.

One commentator expressed the opinion that the head of Morgan Creek Digital, Anthony Pompiano, should certainly join the charity dinner.

Justin San will meet with Warren Buffett on July 25 in San Francisco. For this, the founder of the TRON Foundation paid $ 4.5 million.