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Dogecoin Co-Creator, Others React To Litecoin-Walmart Fiasco: Why You Shouldn't Take 'This Stuff So Seriously'

Monday’s Litecoin (CRYPTO: LTC) spike thanks to a fake press release about its non-existent partnership with Walmart Inc (NYSE:WMT) is a wake-up call to not take “this stuff so seriously,” as per Dogecoin (CRYPTO: DOGE) co-creator Billy Markus.

What Happened: Markus reacted to the LTC-Walmart phony news and noted that multiple mainstream news outlets reported the false story. He also pointed out that gains in LTC were erased in minutes.

See Also: How To Buy Litecoin (LTC)

Former hedge fund manager and Bitcoin investor Michael Novogratz had a laugh on those who purchased LTC on the Walmart news.

David Gokhshtein, founder of Gokhshtein Media who had earlier tweeted a CNBC story on Walmart accepting payments using LTC but also questioned if the news was genuine said he got rugged by the cryptocurrency.

Entrepreneur Anthony Pompliano, Bitcoin (CRYPTO: BTC) said the U.S. Department of Justice will look for the people responsible for the fake press release but the attention should be on media regulation.

Why It Matters: Charlie Lee, creator of Litecoin and managing director of the Litecoin Foundation acknowledged in an interview with Bloomberg that the Foundation “screwed up” after one of its employees retweeted what was a fake announcement.

See Also: Profit-Booking Hurts ‘Ethereum Killer’ Cardano As Smart Contracts Go Live

“We try our best to not tweet fake news and this time we really screwed up,” he said — adding, “I deny that it has anything to do with us and we’ll try our best to figure out who did it — and we will stop fake news from spreading.”

As for Walmart, the company too took to Twitter to deny its relationship with LTC and issued a full-length statement as well.

Price Action: LTC traded 0.37% higher at $178.48 at press time. The cryptocurrency has fallen 23.41% from an intraday peak of $233.06.

Read Next: Bitcoin, Ethereum, Dogecoin Stay Subdued But ‘Hodlers’ Are Unfazed By Recent Sell-Off

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