The creator of litecoin has sold off all of his holdings in the cryptocurrency he created.
Charlie Lee, who founded litecoin in 2011, said on Reddit Wednesday that he had “sold and donated” all of his litecoin tokens over the past few days — except for some physical ones he keeps as “collectibles.”
Lee said he is sometimes accused of talking about the price of the digital currency on Twitter for “personal benefit.”
“Some people even think I short LTC (litecoin)!” he said. “So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence.”
He added: “I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of litecoin and cryptocurrency in general.”
Last week, Lee told CNBC he doesn’t like to speculate on price moves because he is “always wrong.”
“If I tell you it’s going to go up and it doesn’t, you’ll be upset,” he said in an interview.