August 20, 2018

Op Ed: What does Facebook’s Crypto Ad Ban Mean for Litecoin

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The crypto-sphere is full of hearsay and rumor. If nothing else it keeps hopes high in times of adversity, such as right now. Altcoins can go up on a shill or a pump from a whale, and back down on the spread of FUD across social media. It is unlike any other market and is driven largely on impulse at times. Because it is still an embryonic industry, connections can be drawn between large established companies, cryptocurrencies, and potential blockchain adoption.
Crypto-land vented with speculation when Charlie Lee sold off his Litecoin stash and hodlers were left wondering how the coin would survive without its master. Litecoin erupted in December shooting up over 300% in just over a week. It topped out at around $370 and has been on a downward slide ever since shedding over 60% in the process.
According to ZeroHedge, there were accusations of insider trading since Lee was the former Director of Engineering at Coinbase. He has vehemently denied any of this, stipulating that the sale was to avoid any potential conflict of interest with any other companies that may be looking at Litecoin adoption. Lee obviously made a bucket load of cash from the selloff but can now …

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