A press release claiming Walmart would accept Litecoin caused the cryptocurrency to skyrocket in value on Monday morning—but only briefly. The cryptocurrency has since taken a massive dive amid reports the press release(Opens in a new window) about the Walmart-Litecoin partnership is fake.
CNBC was among the first media outlets to report the partnership, citing a press release from GlobeNewswire, which helps companies distribute corporate PR to media outlets.
“We’re very excited to be working together with the Litecoin Foundation, and further innovate our business. Starting October 1st, all eCommerce stores will have implemented a ‘Pay with Litecoin Option,'”