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Walmart says cryptocurrency announcement was fake

FILE - In this Nov. 5, 2020 file photo, a woman pushes a shopping cart to enter a Walmart in Rolling Meadows, Ill. Walmart has denied any partnership with the digital currency Litecoin after a fake news release briefly fooled several national news outlets and social media users on Monday, Sept. 13, 2021 A news release claiming a partnership between Walmart and Litecoin is “not real,” according to Walmart spokesperson Molly Blakeman. (AP Photo/Nam Y. Huh, File)
by: WRTV Staff
Posted: / Updated:

Walmart will not begin accepting cryptocurrency despite a press release that many assumed was real.

The false announcement was picked up by numerous news organizations Monday, and immediately sent Litecoin’s stock up.

To make matters worse, a Litecoin employee tweeted about the false claim of a partnership from the currency’s Twitter account.

Charlie Lee, creator of Litecoin, said an employee mistakenly tweeted about the announcement after seeing the fake release.

A Walmart spokesperson also confirmed to The Associated Press there is no partnership between the retailer in Litecoin.

It’s not clear who was behind the fake news release.

CNN reports that Litecoin’s price went from $220 after the fake press release was released back to $178 once Walmart clarified it was a hoax.

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