Walmart and Litecoin are both debunking news of a partnership, saying nothing is in the works.
Early Monday, September 13, a notice went out on Global NewsWire claiming that Walmart was partnering with cryptocurrency Litecoin. Not surprisingly, Litecoin’s price surged on the news. The only problem — the news was fake.
Walmart, Litecoin and Global NewWire have all denounced the initial press release as fake news.
Walmart’s said it had no knowledge of the press release in a statement:
Walmart was the subject of a fake news release issued on Monday, Sept. 13, that falsely stated Walmart announced a partnership with Litecoin (LTC). Walmart had no knowledge of the press release issued by GlobeNewswire, and it is incorrect. Walmart has no relationship with Litecoin.
Litecoin said the statement, as well quotes attributed to creator Charlie Lee, were false:
A fake press release, which looked to be official, was sent out this morning across Global NewsWire. It is not our policy to release a partnership in this way. Regarding the quotes within the article itself, these too are fabricated and did not come from Charlie Lee, the creator of Litecoin and Managing Director of the Litecoin Foundation.
Global NewsWire asked all journalists and readers to disregard the initial press release:
Please be advised that journalists and other readers should disregard the news release, “Walmart Announces Major Partnership With Litecoin (LTC)” issued September 13, 2021, over GlobeNewswire.
It is true that Walmart is working on something related to cryptocurrency, as the company recently posted a job opening for a Cryptocurrency Lead. Whatever those plans are, however, they don’t appear to involve Litecoin.