On the heels of Bitcoin.com co-founder Emil Oldenburg selling all of his Bitcoins, now Charlie Lee, the founder of Litecoin, just sold all of his Litecoin and people are very confused, and in many cases, angry.
What makes this move cause even more uncertainty is the fact that people were already freaking out Tuesday night after Coinbase added Bitcoin Cash, which is what Oldenburg said he was now investing in instead of Bitcoin.
It wasn’t the fact that Coinbase added Bitcoin Cash that caused the commotion though. It was because they almost immediately halted transactions of the BTH after the price skyrocketed, locking everyone out who wanted in on it. Naturally, this led to many suspecting something devious was going on, even mentioning the possibility of market manipulation.
Coinbase has even launched an insider trading investigation, reports the BBC, fearing “its own workers may have exploited its move into Bitcoin Cash.”
Today, even more troubling news broke in the world of cryptocurrency when news spread that Litecoin founder Charlie Lee, in a move similar to Oldenburg with Bitcoin, had sold ALL of his Litecoin.
Lee, who founded Litecoin in 2011, claims in a post on Reddit that he sold off all his Litcoin to avoid a perceived “conflict of interest.”