The founder of litecoin Charlie Lee announced today that he no longer has any significant funds in this cryptocurrency.
In recent days he sold all their savings in LTC, and the proceeds were used for donations. In a post on Reddit, he explains that this was done to avoid a conflict of interest in promoting LTC.
Lee assured his followers that this does not mean that he leaves the game and will continue to work on the cryptocurrency he created. Lee also explains that he is still interested in the growth litecoin is just now his interest is not just to keep the cryptocurrency in the hope that the price will rise.
In his statement, Lee explains that in the past year, he has tried to avoid public statements on Twitter about the price of litecoin, because, as a result, he was always accused in the fact that he’s doing it to push the price up or down and thus to earn on price changes. He also said that now he’s secured so that he does not need to rely on income from the ownership of the LTC and he could afford this step.
Unfortunately, not everyone in the cryptocurrency community stertil this statement with understanding. The main source of discontent is the time when Charlie decided to break the news – right after Coinbase and Gdax has announced the addition of Bitcoin Cash (BCH). As is well known Charlie a long time held the position of technical Director at Coinbase.