Cryptocurrencies
Litecoin Founder Who Beat 90% Plunge Now Finds Shadow Over Coin
- Charlie Lee exited the cryptocurrency just before 2018 decline
- Focus is now on attracting merchants to boost actual usage
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Litecoin founder Charlie Lee says he’s focusing on increasing use of the eighth-largest cryptocurrency rather than dwelling on his fortuitous decision a year ago to sell all his holdings at the height of the digital-asset market bubble.
At the time, Lee said the liquidation was aimed at preventing a “conflict of interest” when making comments on the virtual currency. The decision hasn’t sat well with critics who accused him of recognizing the mania and cashing out ahead of the roughly 90 percent decline in the value of the token.