• Latest
Litecoin Turns 8 — Charlie Lee Says Foundation Not Near Bankruptcy

Litecoin Turns 8 — Charlie Lee Says Foundation Not Near Bankruptcy

October 14, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Litecoin

Litecoin Turns 8 — Charlie Lee Says Foundation Not Near Bankruptcy

coinnewsdaily by coinnewsdaily
October 14, 2019
in Litecoin
0
Litecoin Turns 8 — Charlie Lee Says Foundation Not Near Bankruptcy
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022

As Litecoin (LTC) celebrated its eighth birthday on Oct. 13, its founder Charlie Lee had to fend off crypto Twitter’s FUD — fear, uncertainty and doubt — about the altcoin.

Lee’s original post was the exuberant announcement that:

“Litecoin network has been up and running continuously for the past 8 years with zero downtime. And in that span of time, over $500,000,000,000 worth of LTC have been transacted. Looking forward to the next 8 years and more! ”

“We have enough money to last 2 years”

The first response to the birthday post immediately raised the specter of bankruptcy allegations, to which Lee robustly retorted:

“It’s [the Litecoin Foundation] not near bankruptcy. Don’t listen to stupid fud and lies. We have enough money to last 2 years.”

The allegations were sparked by a TrustNodes report last week that claimed the Foundation was down from $1 million in income in 2018 down to negative $70,000 by 2019.

At the time, Lee had responded to the report with a statement that the Foundation had an estimated 1 to 2 years’ runway — with around $200,000 in its coffers. 

He added that the company’s financial prospects would also be guided by the outcome of the forthcoming Litecoin Summit, to be held at the end of October in Las Vegas.

Speakers will include high-profile industry figures such as Morgan Creek Digital Assets founder and podcast host Anthony Pompliano, Wyoming Blockchain Task Force president Caitlin Long, and the co-founder and former CEO of BTCC exchange Bobby Lee, among others.

Bitter accusations amid the birthday cheer

With Litecoin trading at roughly $57 as of press time, the altcoin is down almost 60% from its 2019 highs this June — reflecting the wider cooling of the crypto markets.

Lee himself had famously sold and donated all his LTC holdings back in Dec. 2017 — at the peak of the crypto markets’ historic bull run: a decision he explained as motivated by a desire to avoid any conflict of interest and a step toward the thorough decentralization of the network.

While some crypto Twitterers’ appeared bitter about Lee’s move to sell at peak prices, others defended Lee, pointing to the founder’s role in warning others against overheated trading as he anticipated a “multi-year bear market” would set in following Dec. 2017.



Credit: Source link

Share76Tweet48
Previous Post

Coinbase Eyes European Growth After Winning Irish E-Money License

Next Post

Token Investors May Sue After Former Korean Social Media Giant Shuts Down

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |
Bitcoin

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing
Bitcoin

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022
Bull or bear market, creators are diving headfirst into crypto
Alt Coin

Bull or bear market, creators are diving headfirst into crypto

April 2, 2022
crypto listing and delisting announcements: week 9
Alt Coin

Crypto Listing and Delisting Announcements: Week 9

February 28, 2022
unstable markets how to invest in cryptocurrency
Alt Coin

How to invest in cryptocurrency when the market is uncertain, explained

December 21, 2021
be your own banker secrets
Alt Coin

Bitcoin and Crypto Wallet Hygiene 101

November 22, 2021
Load More
Next Post
Token Investors May Sue After Former Korean Social Media Giant Shuts Down

Token Investors May Sue After Former Korean Social Media Giant Shuts Down

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,564.00-2.30%
  • ethereumEthereum(ETH)$1,647.51-2.33%
  • tetherTether(USDT)$1.000.23%
  • binancecoinBNB(BNB)$326.631.20%
  • rippleXRP(XRP)$0.411903-1.24%
  • cardanoCardano(ADA)$0.402517-0.12%
  • dogecoinDogecoin(DOGE)$0.091591-4.19%
  • matic-networkPolygon(MATIC)$1.19-4.15%
  • okbOKB(OKB)$39.52-0.31%
  • solanaSolana(SOL)$24.34-5.07%
  • polkadotPolkadot(DOT)$6.570.17%
  • shiba-inuShiba Inu(SHIB)$0.0000120.37%
  • litecoinLitecoin(LTC)$99.97-1.47%
  • tronTRON(TRX)$0.0641700.94%
  • daiDai(DAI)$1.000.22%
  • cosmosCosmos Hub(ATOM)$14.55-3.16%
  • chainlinkChainlink(LINK)$7.14-2.06%
  • ethereum-classicEthereum Classic(ETC)$22.880.86%
  • moneroMonero(XMR)$173.83-3.27%
  • leo-tokenLEO Token(LEO)$3.360.38%
  • bitcoin-cashBitcoin Cash(BCH)$137.65-0.05%
  • stellarStellar(XLM)$0.092216-1.02%
  • filecoinFilecoin(FIL)$5.50-3.88%
  • crypto-com-chainCronos(CRO)$0.080708-1.86%
  • algorandAlgorand(ALGO)$0.2575260.30%
  • vechainVeChain(VET)$0.024356-2.92%
  • internet-computerInternet Computer(ICP)$5.81-4.22%
  • aaveAave(AAVE)$88.42-2.68%
  • eosEOS(EOS)$1.07-1.64%
  • elrond-erd-2MultiversX(EGLD)$45.061.23%
  • theta-tokenTheta Network(THETA)$1.08-1.89%
  • tezosTezos(XTZ)$1.10-1.14%
  • huobi-tokenHuobi(HT)$5.8813.56%
  • paxos-standardPax Dollar(USDP)$0.99-0.15%
  • bitcoin-cash-svBitcoin SV(BSV)$42.95-1.78%
  • havvenSynthetix Network(SNX)$2.51-4.98%
  • dashDash(DASH)$63.760.10%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.180.77%
  • iotaIOTA(MIOTA)$0.234515-0.94%
  • neoNEO(NEO)$8.833.36%
  • makerMaker(MKR)$672.57-0.47%
  • zcashZcash(ZEC)$46.25-3.33%
  • zilliqaZilliqa(ZIL)$0.0289800.17%
  • basic-attention-tokenBasic Attention(BAT)$0.269148-1.74%
  • compound-governance-tokenCompound(COMP)$53.02-6.18%
  • nemNEM(XEM)$0.0399390.11%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$37.100.95%
  • bitcoin-goldBitcoin Gold(BTG)$16.88-4.42%
  • sushiSushi(SUSHI)$1.5214.50%
  • qtumQtum(QTUM)$2.74-1.73%
  • wavesWaves(WAVES)$2.59-2.22%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • yearn-financeyearn.finance(YFI)$7,701.761.56%
  • golemGolem(GLM)$0.2495560.82%
  • omisegoOMG Network(OMG)$1.47-0.83%
  • ontologyOntology(ONT)$0.214386-1.51%
  • digibyteDigiByte(DGB)$0.010912-2.28%
  • umaUMA(UMA)$2.08-1.39%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%