Charlie Lee sells almost all of its LTC to avoid conflict of interest

Charlie Lee sells almost all of its litecoin, a cryptocurrency, which he created in 2011. From his posts on Reddit that the sale of LTC (except collectible coins) – a necessary measure. She will avoid any conflict of interest that comes with influence and position as founder of Litecoin.

Work in Coinbase, the reputation of the key figures in Cryptoprotected, more than 378 000 Twitter followers – all this influenced the fact that his tweets obvinili of involvement in the manipulation of the price. Lee admits that his position constituted a conflict of interest.

«Whenever I’m talking about the price of litecoin, or even about the good or bad news, I blame the fact that I’m doing this for personal gain. Thus, in a sense, for me, the conflict of interest to be a holder of LTC and post tweets about it. I always refrain from buying or selling LTC before or after my tweets, but others doubt it. And will always wonder whether any of my actions put my personal wealth above the success of Litecoin and cryptocurrencies in General,» wrote Lee.

The exact number of sold LTC not known. He said that focus on the development of the cryptocurrency.

«I’m not leaving his brainchild. I’m still going to work on it. When Litecoin will succeed, I will definitely be rewarded in many different ways, not directly through hold coins. I think this is the best way for me to continue to follow its growth,» he says.

The solution to Charlie Lee almost did not affect the rate of litecoin, which in recent days has declined against the dollar by about 10%, however, a similar behavior is demonstrated all the major cryptocurrencies.

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