Litecoin surges, then plummets after fake press release says Walmart will partner with the coin for payments | Crypto Craft

  • Litecoin surges, then plummets after fake press release says Walmart will partner with the coin for payments

    From markets.businessinsider.com

    Litecoin spiked and then sharply fell Monday morning after a fake press release said that Walmart is partnering with the coin for payments. In less than an hour on Monday morning, the coin spiked 25% to a peak of $231 and then sharply tumbled to $179. The coin soared immediately after GlobalNewsWire published a press release saying that Walmart has announced a "major partnership with Litecoin." "Walmart will offer their shoppers to use Litecoin to benefit from the features of the cryptocurrency," read the press release. Shortly after, users on Twitter began to doubt the press release's validity, pointing out that ... (full story)

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TwoSense
Sep 13, 2021 10:34am
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If only there were a US government agency that could protect investors/traders. They could even by funded by those that they're hired to protect.

SEC and CFTC are going down in history as sitting on their hands while the markets need regulation. But keep fighting about who has authority over what.

SEC's gets close to $2 billion per year. https://www.sec.gov/foia/docs/budgetact.htm

CFTC latest take from tax-payers was $332 million. https://www.cftc.gov/sites/default/f...d_05212021.pdf
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