Charlie Lee, the creator of the world’s fifth-biggest cryptocurrency Litecoin, sold all his coins after a 7,500 percent rally. The San Francisco-based software engineer said he sold and donated all of his holdings over the past few days because he wanted to prevent a “conflict of interest” when he makes comments on social media about the digital currency that could influence its price. Lee declined to comment on how many coins he sold or at what price, but he said that it was a small percentage of daily volume and “did not crash the market.” He said the move will be good for the long-term. Litecoin dropped about six percent in the past 24 hours, but Lee insisted that his sale is not because he lost faith in the cryptocurrency. He said he will still be working on litecoin full time.
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