Charlie Lee AKA @SatoshiLite, the founder of Litecoin, is in the news today saying he has sold all of his LTC due to potential conflicts of interest. In typical Crypto nerd fashion he wrote a Reddit post about it. Reddit is garbage but here’s the link and a screenshot from last week where Mr Lee said he does not like to talk about price.
I’m sure the timing of this has nothing to do with the fact LTC has gone from under $4 to over $300 in the past NINE MONTHS. That would be speculating right?
LTC is down 10% on the day. Do you see anyone writing letters to the SEC about it?
Charlie is a smart guy. He gets abused frequently and has mostly been above the fray of personal insults. LTC is also very closely tied to BTC. They are the “Gold and Silver” of Crypto.
I don’t begrudge Charlie his success. I admire he’s always been very transparent. I cover this because I believe it’s noteworthy in the crypto space.
If the CEO of your favorite company sold all his stock what would you think?