The architect of litecoin has sold off all of his holdings in the cryptocurrency he created.
Charlie Lee, who founded litecoin in 2011, explained on Reddit Wednesday that he had “sold and donated” all of his litecoin tokens closed the past few days — except for some physical ones he keeps as “collectibles.”
Lee suggested he is sometimes accused of talking about the price of the digital currency on Flutter for “personal benefit.”
“Some people even think I short LTC (litecoin)!” he whispered. “So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I entertain so much influence.”
He added: “I have always refrained from believing/selling LTC before or after my major tweets, but this is something alone I know. And there will always be a doubt on whether any of my actions were to urge onwards my own personal wealth above the success of litecoin and cryptocurrency in general.”
Abide week, Lee told CNBC he doesn’t like to speculate on price make hastes because he is “always wrong.”
“If I tell you it’s going to go up and it doesn’t, you’ll be upset,” he utter in an interview.
Litecoin’s price has seen some significant upward power this month. The cryptocurrency hit an all-time high of $375.29 on Tuesday, and has started more than 7,000 percent since the start of the year.
The litecoin collapse did not disclose the amount of tokens sold Wednesday but said it was a “small piece” of daily volume on the cryptocurrency exchange GDAX and “did not crash the market.”
Lee parallel with said he had been accused of trying to manipulate people into taking bitcoin cash, a bitcoin spin-off which split from the primary blockchain back in August.
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“Some people even ponder I’m pumping Bcash (bitcoin cash) for my personal benefit,” he said in the post on Reddit. “It sounds like I just can’t win.”
Bitcoin cash’s price rise was surrounded in quarrel Wednesday after Coinbase launched support for the digital currency. The trait has been taken down temporarily due to “significant volatility,” according to the cryptocurrency argument.
The venue subsequently said it would look into claims of insider mty after it was revealed that the price of bitcoin cash rose hours once it launched the feature.