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Walmart Denies Litecoin Pact After Hoax Jolts Crypto Market
Posted
September 13, 2021
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September 13, 2021
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1:37Now PlayingWalmart Inc. said it hasn’t agreed to partner with Litecoin, refuting a statement earlier Monday that sent the cryptocurrency soaring.
The statement that was released via GlobeNewswire isn’t authentic, a Walmart representative confirmed to Bloomberg News. The company is in the process of trying to learn more about the release.
GlobeNewswire issued a statement at 9:30 a.m. in New York saying that the world’s largest retailer had agreed to partner with Litecoin and accept the cryptocurrency as payment. Litecoin had soared as much as 33% on the announcement, with other cryptocurrencies gaining as well. Litecoin erased almost all of its gain, rising 1.2% at 11:07 a.m. in New York. Walmart shares fell less than 1% after earlier trading in positive territory.
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