Charlie Lee is the Litecoin founder and he has sold and donated all of his lite coins.
He is a well-known software engineer and he has previously worked both in Coinbase and Google. Charlie made this surprising move and sold out all of his lite coins and shared the news with the public in a Reddit post.
However, he declined to answer on how many he had and how many he actually sold and he also didn’t want to answer the main question which is why would the Lite coin founder himself sell all of his lite coins?
It is believed that the reason behind this dramatic decision is that he has faced a conflict of interest as a founder. He himself mentions that in his Reddit post where he admits that he is constantly criticized whenever he mentions Lite coin on his tweets.
However, the best thing about his decision is that he took the time to assure people that what he did has nothing to do with the value of Litecoin and that they shouldn’t be alarmed.
Even after all the explanation, the Lite coin founder faced numbers of accusations that he has failed the LTC community and that people are very disappointed by the decision he made.
People even think that he is hiding something and they are calling out for him to speak up about the whole truth.
At this moment, Lite coin is the world’s fifth cryptocurrency and the seventh largest coin according to the market. At the beginning, its value was $4 and now it got up to $334 !!!
However, after what the Lite coin founder did, people are wondering if this is the coin they want to invest in and who is going to blame them?