Cryptocurrencies Fall After Walmart Says No Pact With Litecoin

(Bloomberg) — Major cryptocurrencies gave back their advances after Walmart Inc. denied having an agreement to use Litecoin for purchases. 

Litecoin — which rose as much as 33% at one point — erased all its gains. Bitcoin, the largest digital asset, was down 2.9% as of 10:24 a.m. in New York after earlier having advance roughly 4% on the news. Other digital assets also retreated, with Bitcoin Cash, Ether and EOS all declining. 

A Walmart spokesperson said the statement on Litecoin was “inauthentic.” Meanwhile, a verified Litecoin Twitter account deleted a tweet that linked to a press release announcing the partnership. 


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