More

    No, Walmart is NOT accepting Litecoin

    Against earlier trending reports that Walmart, the leading retailer and one of the biggest eCommerce companies in the world has partnered with Litecoin, a spokesperson for the company has come out to deny the press release.Walmart Denies LitecoinThe fake release had expressly claimed that Walmart was going to start adopting the crypto asset as an alternative payment method across its stores from October 1st. However, according to the grocer company, none of these claims is right.“As a leading eCommerce store, we are committed to bringing innovations to the online shopping experience. By integrating Litecoin, we will enable shoppers to experience a very smooth checkout experience with near-instant transaction confirmation and near-zero fees regardless of where in the world they are… Starting October 1st, all eCommerce stores will have implemented a ‘Pay with Litecoin Option,” the said fake release read in part.Also, the said press release had said Litecoin Founder Charlie Lee had expressed excitement and enthusiasm about the development. A number of reputable media houses had cited the release in their first reports announcing the partnership. Mainstream media houses like Reuters and CNBC have, however, updated their stories after confirming that their source was false.Analysts say it is a “pump and dump”Some analysts have posited that what was seen as an example of a massive pump and dump scheme and could lead to the heavy regulation of the crypto industry. The Director of news at The Block, Frank Chaparro, said that the “pump and dump scheme” could draw reactions from the authorities. “Wouldn’t be surprised if this pump and dump scheme – which tricked basically everyone – draws the further ire of Gary Gensler and co.”Though the press release has now been taken down, a closer look at it would reveal that the email domain name was registered less than a month ago, also, it does not link to any official site of the e-commerce company. Apart from that, the press release does not contain the usual financial safe harbor information that Walmart tends to use.As of press time, Litecoin is trading around $180 after it had witnessed a sharp rise to $233 after the news broke.Get an edge on the cryptoasset marketAccess more crypto insights and context in every article as a paid member of CryptoSlate Edge. On-chain analysis Price snapshots More context Join now for $19/month Explore all benefitsPosted In: Litecoin, Rumors Like what you see? Subscribe for updates.

    Related articles

    Comments

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Share article

    Latest articles

    Newsletter

    Subscribe to stay updated.

    bitcoin
    Bitcoin (BTC) $ 47,436.00
    ethereum
    Ethereum (ETH) $ 3,416.74
    cardano
    Cardano (ADA) $ 2.36
    tether
    Tether (USDT) $ 1.01
    binance-coin
    Binance Coin (BNB) $ 411.00
    xrp
    XRP (XRP) $ 1.08
    solana
    Solana (SOL) $ 142.02
    polkadot
    Polkadot (DOT) $ 33.75
    dogecoin
    Dogecoin (DOGE) $ 0.242614
    usd-coin
    USD Coin (USDC) $ 1.01
    avalanche-2
    Avalanche (AVAX) $ 65.34
    terra-luna
    Terra (LUNA) $ 35.34
    binance-usd
    Binance USD (BUSD) $ 1.01
    chainlink
    Chainlink (LINK) $ 28.23
    uniswap
    Uniswap (UNI) $ 24.59
    litecoin
    Litecoin (LTC) $ 181.71
    bitcoin-cash
    Bitcoin Cash (BCH) $ 625.75
    algorand
    Algorand (ALGO) $ 1.96
    wrapped-bitcoin
    Wrapped Bitcoin (WBTC) $ 47,335.00
    cosmos
    Cosmos (ATOM) $ 34.16
    filecoin
    Filecoin (FIL) $ 85.53
    internet-computer
    Internet Computer (ICP) $ 56.22
    matic-network
    Polygon (MATIC) $ 1.35
    stellar
    Stellar (XLM) $ 0.322151
    tron
    TRON (TRX) $ 0.105980
    ftx-token
    FTX Token (FTT) $ 62.94
    vechain
    VeChain (VET) $ 0.113123
    ethereum-classic
    Ethereum Classic (ETC) $ 57.08
    dai
    Dai (DAI) $ 1.01
    theta-token
    Theta Network (THETA) $ 6.35
    compound-ether
    cETH (CETH) $ 68.36
    tezos
    Tezos (XTZ) $ 6.23
    eos
    EOS (EOS) $ 5.37
    okb
    OKB (OKB) $ 18.70
    pancakeswap-token
    PancakeSwap (CAKE) $ 21.65
    crypto-com-chain
    Crypto.com Coin (CRO) $ 0.189776
    elrond-erd-2
    Elrond (EGLD) $ 244.03
    aave
    Aave (AAVE) $ 364.83
    monero
    Monero (XMR) $ 262.00
    quant-network
    Quant (QNT) $ 351.81
    cdai
    cDAI (CDAI) $ 0.021792
    iota
    IOTA (MIOTA) $ 1.66
    bitcoin-cash-abc-2
    Bitcoin Cash ABC (BCHA) $ 238.45
    compound-usd-coin
    cUSDC (CUSDC) $ 0.022358
    ecash
    eCash (XEC) $ 0.000234
    staked-ether
    Lido Staked Ether (STETH) $ 3,377.11
    shiba-inu
    Shiba Inu (SHIB) $ 0.000008
    hedera-hashgraph
    Hedera Hashgraph (HBAR) $ 0.431263
    the-graph
    The Graph (GRT) $ 0.823496
    near
    Near (NEAR) $ 8.33