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Fake News: Litecoin Foundation Says No Deal With Walmart

Written by:
Aaron Goldstein
Published on:
Sep/13/2021

The Litecoin Foundation issued a statement Monday afternoon shooting down claims that it had entered into an arrangement with Walmart.

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The statement reads that they have no information as to where this idea or the release to the press originated.  They explain further that a fake press release was sent out across the Web Monday morning.

Walmart had earlier disputed the claims.

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The news resulted in a 20% spike in the price of Litecoin followed by a dramatic tumble.

A number of media organizations including CNBC sent headlines on the announcement. Shares of Walmart had little movement on it. Litecoin last traded 2.2% down, according to Coin Metrics.

- Aaron Goldstein, Gambling911.com

Business/Financial News

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