Deals
A Cryptocurrency Founder Sold All His Coins After 7,500% Rally
- Litecoin’s Lee says trying to avoid ‘conflict of interest’
- Sale may cause ‘short-term’ dip in price of digital currency
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Charlie Lee, creator of the world’s fifth-biggest cryptocurrency, cashed in during a 75-fold rally this year.
The San Francisco-based software engineer whose litecoin was founded in 2011 “sold and donated” all of his holdings over the past few days, he said in a Reddit post. The disposal was aimed at preventing a “conflict of interest” when Lee makes comments on social media about the digital currency that could influence its price, he said.