In the cryptocurrency world, Charlie Lee, as the founder of Litecoin, has always attracted much attention. Recently, he expressed his views on a mistake made by the LTC Foundation, believing that this incident neither benefited him nor brought shame to the LTC Foundation. Let’s dive into this event and see the stories and revelations.

 1. Review of LTC Foundation events

The LTC Foundation has always been a key organization in the Bitcoin ecosystem, responsible for promoting the development and promotion of Bitcoin. However, the latest move has caused widespread controversy. It is reported that the foundation made a serious mistake during an important event, which led to the spread of negative impact. This misstep not only disappointed the community, but also called into question the foundation’s management and execution capabilities.

 2. Charlie Lee’s point of view

As the founder of Bitcoin, Charlie Lee expressed strong dissatisfaction and criticism of the LTC Foundation’s mistakes. He believes that the occurrence of this incident not only damaged the reputation of Bitcoin, but also confused and disappointed investors and supporters. As an open and transparent foundation, the LTC Foundation should handle various affairs more carefully and responsibly to avoid similar incidents from happening again.

 3. Lessons from mistakes

This mistake of the LTC Foundation has taught us a profound lesson. First of all, as an organization, we must always maintain a high degree of vigilance to avoid major mistakes due to negligence. Secondly, we must establish a sound internal management system to ensure that all work is carried out in an orderly manner. The most important thing is to always put the interests of users and investors first, continuously improve service quality and transparency, and establish a good brand image.

 4. Future Outlook

Although this incident has brought some negative impacts to Bitcoin, we believe that through the joint efforts of the LTC Foundation and the entire community, Bitcoin will still have a better future. We look forward to seeing Bitcoin make greater progress in technological innovation, application expansion and community building, setting more examples for the entire cryptocurrency industry.

 Conclusion

In the world of cryptocurrency, every event can have a profound impact on the entire industry. Through this mistake of the LTC Foundation, we not only see the problem, but we should also learn from it, constantly improve our own management and operating mechanisms, and contribute to the development of the industry. Let’s work together to create a healthier, more transparent and prosperous cryptocurrency ecosystem.

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According to previous reports by the editor of Bitcoin Circle (www.120btc.com), the official press release distribution platform Globe
Newswire suddenly published an article on Walmart announcing its cooperation with Litecoin at 9:00 pm on the 13th, saying that Walmart has accepted Litecoin as an online payment method. This news was reposted by the Litecoin Foundation on Twitter and reported by major international mainstream media, causing the cryptocurrency market to panic. After rising, Litecoin soared nearly 40%, hitting a maximum of $238.

But then the Litecoin Foundation suddenly deleted the article, and major media also deleted the report. Walmart officials even jumped out and announced that this was false news, which caused the cryptocurrency market to fluctuate violently. Litecoin, which had skyrocketed, fell back. As of the time of writing, the report $180, down nearly 25% from its highs.

The founder of Litecoin was also scammed

In this regard, Litecoin founder Charlie
In an exclusive interview with Bloomberg today, Lee said that any enterprise can start accepting Litecoin without having to communicate with the Litecoin Foundation in advance, so he was initially deceived by this fake news.

Charlie Lee said: My reaction was, wow, that's great...it turned out to be fake.

Charlie Lee said that Globe, which originally issued the press release,
Newswire is cooperating with judicial authorities to investigate the incident and the perpetrators, but there is not much the Litecoin Foundation can do and has little role in the investigation. He added that fake news often spreads, both in the cryptocurrency space and in traditional stock trading.

Charlie
Lee said that the fake news did not come from internal members of the Litecoin Foundation, and the Litecoin Foundation did not profit from the news. He personally only holds 20 Litecoins, stressing that this means that he has no motivation to do such a thing.

Despite denying that the Litecoin Foundation was involved in creating fake news, Charlie
Lee admitted that the Litecoin Foundation’s social accounts need to take responsibility. The Litecoin Foundation now understands the influence of its Twitter account and will be more diligent in verifying news in the future.

Charlie Lee said: I mean, we work very hard not to publish fake news. But this time we really messed up... We will work harder to verify authenticity.

Walmart emphasizes that it has no cooperation with Litecoin

According to Reuters, in response to this false news, Walmart said it was investigating how the press release was sent from Globe Newswire.

A Walmart spokesperson said: Walmart has no knowledge of the press release issued by Globe Newswire and the information is completely untrue.

Walmart has nothing to do with Litecoin.

Globe Newswire issued a notice not to heed the press release and said it has taken enhanced authentication steps to prevent similar incidents from happening in the future.

Globe Newswire said: We will cooperate with the relevant authorities to request and facilitate a comprehensive investigation, including the investigation of any criminal activity related to this matter.

Charlie Lee told Reuters via email that the scam was being investigated, but so far there had been no progress.

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