Litecoin Creator sold all its crypto assets

By writing a message to his Reddit this morning, Charlie Lee explained that he no longer wants to fight allegations that his remarks about the litecoin price are being made for his personal enrichment. He also explained that he sees the sale as the best way to ensure the transparency of his actions.

Lee wrote:

Some people think that I'm selling LTC! In a sense, it's a conflict of interest for me to keep LTC and write about it publicly, because I strongly influence its value.

Although Lee claimed that he "always abstained" from buying and selling litecoin before "meaningful statements", his actions could be regarded as an attempt "to put an increase in his own well-being above the success of litecoin and crypto-currency in general."

As a result, Lee said that in recent days he had sold or donated his litecoin supplies, with the exception of a few physical coins that were kept as "collectibles". Lee added that the amount of litecoiins sold to them was a "small percentage" of the volume of global trade in crypto-currencies.

Litecoin is the fifth largest coin. according to the market capitalization, which was formed due to the hardball of the bitcoin network back in 2011 and was often mentioned earlier as "bitcoin-silver".Lee ran Litecoin as a crypto currency, which will have faster transactions than the original bitcoin network.

Recently, Litecoin significantly increased in price, as Lee proposed an ambitious roadmap project, including the decision to scale Segregated Witness, originally planned for bitcoin. At the time of printing, the Crypto currency was trading near the $ 326 mark after the Chera reached a record high of $ 375.29.

According to coinmarketcap, the market capitalization of Litecoin currently exceeds 17.7 billion dollars.