Rumors of Litecoin and Walmart partnership are false, Spokesperson of Walmart says

Rumors of Litecoin  and Walmart partnership are false according to the spokesperson of Walmart. Press release published today saying that a partnership will be established between Litecoin and Walmart. The price of Litecoin went from $175 to $231 after the news. 

Rumors of Litecoin and Walmart partnership:

A press release was published by the globalnewswire on September 13, regarding the partnership between Litecoin and Walmart. Mainstream media like CNBC, Bloomberg, and Reuters published the same news without confirming. The press release featured the CEO of Walmart, Doug McMillon, and creator of Litecoin, Charlie Lee.

Rumors of Litecoin
yahoo finance reported the news on a live video

The press release was also promoted on Twitter with an official litecoin Twitter account having the blue checkmark. Rumors of Litecoin and Walmart partnership were promoted through every means. The fake Twitter account announced that Walmart will start accepting Litecoin as payment.

Rumors of Litecoin
At first, Reuters, Bloomberg, and CNBC all reported on the news as being legitimate and then updated their posts and revealed the news was not accurate with a statement from a Walmart spokesperson.

After a few hours of the press release getting published, the news started to look phony. A lot of crypto influencers claimed that it was fake. One individual discovered that the name “WALMART-CORP.COM,” the email used in the press release, did not go to an official website. The name “WALMART-CORP.COM” was also registered last month.

Walmart spokesperson came to the scene and cleared that Rumor of Litecoin and Walmart was inauthentic. Fake or not but Litecoin got a price boom from $175 to $231 and retraced to $190 after the news was confirmed.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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