Customers store at a Walmart retailer on August 04, 2021 in Houston, Texas.
Brandon Bell | Getty Images
Cryptocurrency litecoin gave up a 20% achieve and tumbled again to earth following a pretend press launch sent out by GlobeNewswire that referenced a partnership with Walmart.
A Walmart spokesperson confirmed the press launch is not genuine. Litecoin final traded down by 2%, in line with Coin Metrics.
Quite a few media organizations together with CNBC despatched headlines on the announcement. Shares of Walmart had little motion on it.
The announcement referenced a non-working web site within the electronic mail of one of many contacts listed, elevating suspicions.
The information launch mentioned that Walmart, the most important retailer within the U.S., would settle for cryptocurrency for payments from buyers, using litecoin. The launch was by no means listed on Walmart’s official company web site.
This is a growing story. Check again for updates.