This letter: Unselected
The most important marketplace in the market is how well Wall Street’s positive ideas respond. We are saved on the weekend.
The price of litecoin rose temporarily on Monday morning after reporters falsely claimed that Walmart would allow online consumers to pay for purchases using cryptocurrency.
A release that appeared on GlobeNewswire’s distribution platform claims that the world’s largest retailer has made a deal to allow litecoin as a way to pay for its ecommerce retail stores starting in October.
With the Walmart logo and litecoin, it also includes the words of Doug McMillon, a senior at Walmart, and Charlie Lee, the founder of litecoin.
The Litecoin Foundation, a non-profit organization that promotes cryptocurrency, later wrote that it had “not made a deal with Walmart”.
The seller said the claim was untrue, according to media reports.
The fake release sent the price of litecoin 32.8% to $ 235.88, according to Bloomberg data. Within 30 minutes it started to come back and sells less than 1 percent at $ 178.21 on Monday afternoon.
Fraudulent release seems to be an interesting fact that cryptocurrensets can one day be exchanged. Only a handful of retailers have received crypto currency, including Overstock.com, an ecommerce company. Tesla gas manufacturer said it has already approved bitcoin back to back in May in response to environmental challenges.
Marketers including Reuters and CNBC initially commented on the advertisement before releasing updates or deleting their original content. Twitter account @Litecoin, with 761,000 followers, removed the first tweet This includes links to media coverage.
GlobeNewswire later removed publications from its page and wrote a you buy saying that “journalists and other readers should not ignore what has been published”. Intrado, the parent company of GlobeNewswire, did not immediately respond to a request for comment.
False reports have plagued Wall Street in the past. In 2015, the Securities and Exchange Commission He sued a dealer in Bulgaria who claimed to have written a forged copy of Avon.
The seller, who made false reports and had false positives marketing has been sold via an online platform listed by the SEC online, he was able to sell his shares at a discounted price before increasing 20% of Avon shares before the change, the US security official ordered.