The founder of Litecoin (LTC) Charlie Lee announced today on Reddit and Twitter that he completely unloaded all of his possessions from Litecoin through sale and donation. He wrote on Reddit:
"For the first time in 6+ years, I no longer own a single LTC that is not stored in a physical Litecoin. as some collectibles.) "
According to his post from Reddit, the amount that Lee sold was a small percentage of the daily volume of GDAX, and he did not crashed the market.
Please read the whole message. The Reddit thread is here: https://t.co/4xIZl7IC2V pic.twitter.com/VoIlA0Xjj3
– Charlie Lee [LTC] (@SatoshiLite) December 20, 2017
According to the announcement, Lee decided to sell all his litecoin because of the risk of conflict of interest, given the influence that his personal statements may have on the price of the play
. his LTC, he can fully separate his own opinions and actions from the performance of cryptocurrency, stating:
"… every time I tweet about Litecoin price or even just good or bad news, I am accused of doing this for personal benefit.Some people even think that I am short of LTC! So in a sense, it is a conflict of interest for me to hold a LTC and tweet about it because I have so much influence. "
The Future of Lee
Lee gave some clues as to which concerns its future, reassuring the users that it does not abandon in any way its creation. With his own stable personal finances, he plans to devote himself to Litecoin, and expects to meet a variety of other rewards beyond the appreciation of the prices of his coins:
"Do not worry, I'm not leaving Litecoin, I'm going to spend all my time working on Litecoin, and when Litecoin succeeds, I'll always be rewarded in different ways, but not directly by the property of I now believe it's the best way for me to continue to oversee Litecoin's growth. "
Lee also added an update to his Reddit post stating that he had no role in the Bitcoin scandal. GDAX.
The recent performance of Litecoin
Litecoin has reached all-time highs in recent weeks. At the time of going to press, LTC was trading at $ 312, up from $ 371 yesterday, December 19.
Last month, the price of LTC grew by almost 300%, up $ 71.41. 20.
<img alt=" LTC "src =" https://cointelegraph.com/storage/uploads/view/138bf36f5d4cd81beac5ce095a77eae3.png "title =" LTC "/>