Walmart says pact with Litecoin press release was fake

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Major cryptocurrencies gave back their advances after the retail giant denied agreement to use Litecoin for purchases

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Major cryptocurrencies gave back their advances after Walmart Inc. denied having an agreement to use Litecoin for purchases.

Litecoin — which rose as much as 33 per cent at one point — erased all its gains. Bitcoin, the largest digital asset, was down 2.9 per cent as of 10:24 a.m. in New York after earlier having advance roughly 4 per cent on the news. Other digital assets also retreated, with Bitcoin Cash, Ether and EOS all declining.

A Walmart spokesperson said the statement on Litecoin was “inauthentic.” Meanwhile, a verified Litecoin Twitter account deleted a tweet that linked to a press release announcing the partnership.

Bloomberg.com