CNBC Fast Money Trader giving rise to Litecoin

Brian Kelly, a Bitcoin "televangelist" from CNBC business channel, started buying and promoting Litecoin on TV which gave rise to the price of cryptocurrency
19 December 2017   1246

Brian Kelly is known as CNBC Fast Money Trader, the founder and CEO of BKCM LLC, an investment firm focused on digital currencies,and the author of "The Bitcoin Big Bang – How Alternative Currencies Are About to Change the World".

In the recent episode of CNBC's Fast Money program, Brian Kelly claimed that he had bought Litecoin and had made this decision based on a lot of advantages that Litecoin provides.

    The main advantages of Litecoin according to Brian Kelly:

    • It has a technical lead over Bitcoin
    • You get very fast confirmation times, its faster than Bitcoin and you can move it around the world very quickly
    • It is now accepted at Steam, the online-gaming community that used to accept only Bitcoin 

    At the moment of press, these are main market parameters of Litecoin:

    • Average price: $361,77
    • Marketcap: $19 671 093 273
    • 24h volume: $2 374 450 000

    Litecoin Foudation to Purchase 10% of WEG Bank AG Shares

    The acquisition of shares was the result of an agreement with the company TokenPay
    11 July 2018   128

    The non-profit organization Litecoin Foundation, which supports the popular crypto currency, announced the acquisition of almost 10% of the shares of the German bank WEG Bank AG.

    As noted in the press release, the acquisition of shares was the result of an agreement with the company TokenPay, which operates with the transfer of assets from crypto-currency to fiat and vice versa.

    It is reported that TokenPay transfers 9.9% of shares of the German bank WEG Bank AG to Litecoin Foundation to pay for technical support and the introduction of cryptocurrency payments for TokenPay customers.

    This partnership is a huge win-win for both Litecoin and TokenPay. I’m looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin. I’m also excited about Litecoin’s support in TokenPay’s eFin decentralized exchange.

    Charlie Lee

    Managing Director of the Litecoin Foundation

    TokenPay purchased part of WEG Bank shares in May.

    The partnership with innovative institutions such as TokenPay and Litecoin might at first come unexpectedly for a very conservative institution like us. But we have thoroughly and diligently examined the prospects of a common future, and we became convinced that the future of banking will make adoption of such modern payment methods inevitable. We are therefore proud to have teamed up with the best in the field.

    Matthias von Hauff

    Founder and CEO, WEG Bank AG

    Rumours about possible cooperation between TokenPay and Litecoin Foundation appeared back in April.