Customers shop at a Walmart store on August 4, 2021 in Houston, Texas.
Brandon Bell | Getty Images
Litecoin Cryptocurrency gave up a 20% gain and returned to earth after a fake press release sent by GlobeNewswire referring to a partnership with Walmart.
A Walmart spokesman confirmed that the press release is not authentic. According to Coin Metrics, Litecoin traded 2% for the last time.
Several media organizations, including CNBC, sent headlines about the ad. Walmart shares had little movement.
The ad referred to a website that was not working in the email of one of the contacts listed, raising suspicions.
The press release said Walmart, the largest retailer in the United States, would accept cryptocurrencies for buyers ’payments, using litecoin. The launch never appeared on Walmart’s official corporate website.
This is a developing story. Please check for updates again.