Home / Litecoin / The founder of Litecoin Charlie Lee defends himself with regard to "bad journalism"

The founder of Litecoin Charlie Lee defends himself with regard to "bad journalism"

Charlie Lee is well known in the cryptography industry for having founded one of the first cryptocurrencies, Litecoin. Lee spoke on Twitter following what he called "bad journalism" regarding the sale of his entire Litecoin nine months ago.

Lee sold all of his Litecoin in December 2017 following what he called "a conflict of interest". However, Lee managed to sell his $ LTC to the absolute top. Lee managed to unload all his $ LTC holdings at around $ 322 per currency, Litecoin currently stands at $ 51.73.

Lee recently spoke at the LTC Summit held in San Francisco from 14 to 15 September 2018. He talked about the motivation to sell his $ LTC at the summit and follow the story on Twitter .

In Lee's Twitter thread, he explains that "bad journalism is rampant in cryptic," citing a sensational headline on a comment by Lee about dumping his $ LTC. The founder of Litecoin has commented jokingly that he is happy to have downloaded his LTC or he would have to find another job since he would not be able to work on Litecoin full time or to finance the Litecoin Foundation. The journalist took this comment and distorted the story according to Lee.

Lee explains that he wanted to continue working on the project but did not want to be involved in price speculation, and believed that selling his holdings in LTC would have prevented a conflict of interest.

Lee ends by explaining that people should not believe everything they read on the Internet by citing "Time is money." I now work full-time on Litecoin and more invested in its success than ever. "

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