the litecoin foundation is a nonprofit that is supporting litecoin. we didn't create litecoin for ourselves. a company like tesla, which has shareholders and still has a lot of tesla stock, if elon musk does something which pumps the stock, which he has done previously, it is bad for the whole industry. whereas for the litecoin foundation, we try our best not to tweet fake news. this time we screwed up and will try hard not to do that. but because it is a decentralized cryptocurrency, we don't really benefit from pumping litecoin. no incentive to do that. i am not sure what kind of regulation needs to be done. i think having a stricter fact checking policy for journalism is needed in this case. emily: you liquidated your holdings in 2017 after criticism that your public opinions could affect the price. is that still the case that you have zero or negligible holdings of litecoin to this day? charlie: that's right. i have 20 or so litecoin's, depending on what i use on a daily basis. that is actually a good point, because this means i have no incentive

for litecoin foundation, this time, we screwed up. because it is decentralized cryptocurrency, we do not benefit from pumping litecoin. i am not sure what regulations could there be but they could have a more stricter fact checking policy for journalism is important in this case. emily: you acquitted your holdings in 2017 after criticism that it could affect the price. does that many of zero or negligible holdings in litecoin it self? charlie: i have 20 or so or may be less depending on what i use on a daily basis. that is a good point. it's really bad for this to happen. we will look into it. emily: you have a partnership with it pay. you had been working to get wider adoption out there. getting more retailers to accept cryptocurrency as a form of payment. what do you think the next level is here when, to be fair, there are scams and distrust? there is a lot of uncertainty that remains in general, and the skepticism could be a roadblock? charlie: they have over 1000 merchants supporting crypto and they could use litecoin. other than t

and charlie lee, litecoin's creator and managing director of the foundation, denying that it had anythingith it. he told us about his reaction. take a listen. >> the thing is, with litecoin, anyone can start supporting it and accepting it without talking to me or going to the foundation. so what happened business news got released by global newswire and reuters and one of our social media guys saw it and actually thought it was true. su: so he said an employee had retreated the fabricated announcement, not realizing it was true -- had retweet he said they will make efforts to make sureed. . that -- he said an employee had retweeted the fabricated announcement, not realizing it was true. despite that, litecoin spiked 30% higher before the denials brought it down to earth. rishaad: in a week of crypto regulatory scrutiny, how does this factor into the bigger picture, i suppose? su: well, if you think about the reaction of some of these cryptocurrencies, it was positive news. now it looks like it is a bit of a blackeye. litecoin issuing a statement that they are going forward in all due dili

. >>> the head of the litecoin foundation says the group screwed up when an employee retweeted the announcement about walmart. announcing walmart would accept litecoin as a form of payment online that led to the spike of 30% of litecoin walmart said the press release was fake and looking how it was issued litecoin was jumping this would be something where the s.e.c. could figure out who profited and tried to trace this back >> except we haven't decided that a crypto is a skrecurity. this is what is wrong about this wild west that is happening right now sdpl >> it is an argument >> who is the agency that is supposed to regulate that? if it is not a security? >> it has to be. >> is it the cltc? >> what is litecoin? >> a block chain >> it's like bitcoin >> a bitcoin element to it >> like i said, i know a little bit about bitcoin. any of the other stuff there's no rationale for dogecoin is there a rationale for litecoin >> i imagine there is. dogecoin was to tell a joke. >> in the nft world, that's all you need >>> a couple of stocks to watch. oracle fell short of analyst expectation. it was hurt b

the creator of litecoin says the foundation will be more careful in the aftermath of the false announcementtnership with walmart. >> with litecoin [indiscernible] this news got released, and one of our social media guys saw it and thought it was true. he immediately saw it was fake news, so he deleted that tweet. emily: are there any efforts to make who was behind this accountable? if it was a pump and dump effort, can you track who was behind it? >> i guess it is possible. a global newswire was in contact with the person who submitted the report. they should seek out who did it. there is not much we can do. people can release fake news all the time. this happens in the traditional stock market also. emily: global newswire came out saying they are enhancing authentication steps and will work with authorities on a full probe. they say the incident was isolated and never happened before. as you said, the release was fake, the quotes were fabricated, someone on the social media team got too eager when they retweeted it. to those who might suspect someone on your end is responsible, what would

. ♪ shery: the creator of litecoin says the foundation will be more careful about what they tweet. >>cting it. [indiscernible] someone thought it was true because it was reuters. two minutes later he said it was fake news. >> are there any efforts to make the person behind this accountable? can who is behind it or somehow track who was involved? >> i am sure the global newswire will contact the person who submitted the report. in terms of the foundation, there is not much we can do. people can release fake news. not just cryptocurrency. >> they are enhancing authentication, they will work with authorities. they say it was isolated, never happened before. litecoin, as you said, that the release was fake, quotes were fabricated, said someone got to eager when they retweeted us. but litecoin did pop, big time. to those who might suspect someone on your end is responsible, what would you say? >> it is definitely not anyone on our end. litecoin, pretty much -- i will denied that it has anything to do with us. we will stop it from spreading. >> what internal changes are you making? >> we re