Charlie Lee is the creator of Litecoin. He can be seen promoting Litecoin on his twitter all the time. In an effort to squash any questions regarding conflict of interest, he has decided to sell all his litecoin holdings.
Lee was criticized by many that his tweets to promote LTC were in par with him trying to boost his own wealth. It is not clear how many he had or sold yet, but it was not enough to cause a crash in the market. Lee wrote in Reddit: “Whenever I tweet about Litecoin price or even just good or bad news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence. I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of Litecoin and crypto-currency in general.”
Charlie Lee is considered to be a key influencer in the crypto space. He said he is not giving up on the development of LTC and will continue full-time. He states when Litecoin succeeds, he will still be rewarded in lots of different ways which doesn’t include monetary.