In this Litecoin news update, we have some disappointing news surrounding the LitePay project. Just a month after its launch, the wannabe Litecoin payment processor LitePay has shut its operations abruptly. The project had raised a lots of hopes among businesses and LTC investors worldwide about creating an ecosystem for cryptocurrency payments globally. However, a disappointing launch followed by this sudden shutdown came as a huge letdown for the global crypto community. Expectedly, Litecoin prices tanked after the announcement and is currently hovering at around $140.
Litecoin backers and crypto enthusiasts are now pinning their hopes on LitePal, another payments processor which will be launched later this year. Will LitePal deliver as it promises? We will wait and watch!
Indian cryptocurrency can watch this video for more updates:
References:
Cryptocurrency litecoin falls 10% after payments processor 'LitePay' closes; 'We got too excited,' coin founder says: https://www.cnbc.com/2018/03/26/cryptocurrency-litecoin-falls-after-processor-litepay-closes.html
Litecoin Payments Startup That Won Trader Favor Abruptly Shuts Down: https://www.coindesk.com/litecoin-foundation-issues-mea-culpa-litepay-pulls-plug/
Litepay CEO Terminates Project Operations, Plans to Sell Company After Butting Heads with Litecoin Foundation: https://coincentral.com/controversy-turns-to-closure-as-litepay-shuts-down/
LTC Founder Charlie Lee's tweet about the LitePay:
https://twitter.com/SatoshiLite/status/978309514154819584
- SatoshiLite
LitePal Twitter handle: https://twitter.com/litepalofficial?lang=en