The creator of Litecoin, Charlie Lee, sold off all of his Litecoin holdings on Wednesday. After creating it in 2011, Charlie said on Reddit that he had sold and donated all his tokens over the past few days, except for a few physical ones that he keeps as “collectibles”.
Charlie mentioned that he is sometimes accused of talking about Litecoin on Twitter only to pump it for his own personal benefit.
“Some people even think I short LTC (litecoin)! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence.”
“I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of litecoin and cryptocurrency in general.”
In an interview with CNBC last week, Charlie explained that he does not speculate on price moves because he is “always wrong”.
“If I tell you it’s going to go up and it doesn’t, you’ll be upset,” he said in an interview.