Tbe Founder and chief developer of Litcoin Charlie Lee has recently made a public statement on His reddit account that he has sold off all his positions in Litcoin. He said the reason for such move was to stop the conflicting of interest people have about him Holding such a large position in Litcoin and talking about the price And future of Litcoin at the same time . He said that people always thinks he is manipulating the market price just to enrich his pocket whenever he gives an opinion that concerns Litcoin market conditions .
However ,he said his selling of all his Litcoins doesn't mean he has abandoned the project. He said his main purpose of selling of all his LTC which he said was equivalent to GDAX Daily trading volume ,was to clear off his name from always being seen as an influence on the price of LTC. He however is more interested in the future development of Litcoin and not being associated with its price manipulation.