Summary:
The entire cryptocurrency market pumped when news that the US-based e-commerce giant Walmart, has inked a partnership deal with Litecoin to enable its customers to make payment with LTC broke out. Unfortunately, the news appeared to be fake, and the market dumped subsequently. According to the fake press release on Monday (September 13, 2021), Walmart shoppers would have soon been able to start making payments with LTC across all eCommerce stores. The story was quickly picked up by major news outlets, including Reuters and CNBC, which, ironically, had this in the body before editing it out: “It was not immediately clear if the news release was actually authentic.” Interestingly enough, the sites that picked up the story failed to notice that the impostor credited the press
Topics:
Anthonia Isichei considers the following as important: featured1, LTCBTC, ltcusd, social
This could be interesting, too:
The entire cryptocurrency market pumped when news that the US-based e-commerce giant Walmart, has inked a partnership deal with Litecoin to enable its customers to make payment with LTC broke out. Unfortunately, the news appeared to be fake, and the market dumped subsequently. According to the fake press release on Monday (September 13, 2021), Walmart shoppers would have soon been able to start making payments with LTC across all eCommerce stores. The story was quickly picked up by major news outlets, including Reuters and CNBC, which, ironically, had this in the body before editing it out: “It was not immediately clear if the news release was actually authentic.” Interestingly enough, the sites that picked up the story failed to notice that the impostor credited the press
Topics:
Anthonia Isichei considers the following as important: featured1, LTCBTC, ltcusd, social
This could be interesting, too:
Mandy Williams writes Here’s a List of Bitcoin (BTC) Price Pullbacks Since the Bear Market Bottom
Chayanika Deka writes Investors Fret Over Interest Rates: Digital Asset Outflows Hit 6M
Chayanika Deka writes Here’s How Much Crypto Hong Kong’s Web3 Giant Animoca Brands Holds on Balance Sheet
Wayne Jones writes Railgun Denies North Korea Ties as it Approaches B Total Volume
The entire cryptocurrency market pumped when news that the US-based e-commerce giant Walmart, has inked a partnership deal with Litecoin to enable its customers to make payment with LTC broke out. Unfortunately, the news appeared to be fake, and the market dumped subsequently.
- According to the fake press release on Monday (September 13, 2021), Walmart shoppers would have soon been able to start making payments with LTC across all eCommerce stores.
- The story was quickly picked up by major news outlets, including Reuters and CNBC, which, ironically, had this in the body before editing it out:
“It was not immediately clear if the news release was actually authentic.”
- Interestingly enough, the sites that picked up the story failed to notice that the impostor credited the press release to Walmart-corpCom, which isn’t related to Walmart Inc. in any way.
- This triggered a marketwide reaction, and most cryptocurrencies pumped tremendously in a matter of minutes. Bitcoin touched $47K, and Litecoin – the hero in the fake story touched $240.
- In aggregate, the entire market added a whopping $80 billion in a matter of minutes.
- Moments later, though, speculations ran rampant that the story is fake,, and it didn’t take long for LTC to plunge.
- The price plunged to $175, and it currently trades around that level. This had the entire market lose about $100 billion in the minutes after.
- It didn’t take long for CNBC and other media outlets to confirm that the story was fake.
- A Walmart spokesperson confirmed that the press release wasn’t authentic.