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Littepay is dead: Litecoin Foundation gives back story



Littepay is ready for the count, and Litecoin talks about what went on behind the scenes.

Littepay made some waves with a planned Litecoin payment system. The ambitious project involved a Litecoin debit card, a wallet and payment terminal, and should generally close the gap between the Fiat and cryptocurrency. He has attracted a great deal of attention right up to the planned start date and could be enough to switch to Litecoin prices.

But right on the launch day of Litepay, the fireworks puffed off with the announcement of the debit card feature would not go forward and that the actual project had dropped sharply. The Lepepay project has then been left in a state of limbo, neither real nor dead.



In a blog post, the Litecoin Foundation has announced that the head of Litepay, Kenneth Asare, has contacted them to speak that Lepepay has stopped all operations to sell the company. Litecoin says they have been contacted "a few days ago," but Littepay himself obviously did not commit to announcing his own death.

In their contribution, the Litecoin Foundation also gave a certain backstory to the relationship between them and Lepepay, suggesting that they had a bad blood between them.

"The Foundation had approached Kenneth with the Company because of its less transparent nature, expressing our and the community's concerns about its recent Reddit AMA," says the Litecoin Foundation. 1

9659003] The questionable RedAm AMA (Ask Me Anything) saw Asare emerge to face a series of embarrassing questions and allegations of fraud, most of which went unanswered. If the meeting was to boost public confidence in the project, it failed strongly.

"At that time, Kenneth asked the Foundation for more funds to continue operations, and the Foundation refused any further funding because he could not provide them with a satisfactory picture of where the money was spent and refused to give accurate details about the company and to provide objective evidence to support his statements, "the Foundation continued.

"We are very discouraged that this saga ended with it We apologize for not doing enough due diligence to discover some of these issues earlier … we are working hard on making sure … that this will not happen again happens. "

" Litecoin was and will continue to do just that in the name of LitePay. "

The entire incident indicates that Littepay may have been lost since his failed launch and that the Litecoin Foundation is now even for it Kicks, not to kick it to the curb sooner.

Kenneth Asare of Litepay, however, still has to give his side of the story. There is no guarantee, but he will do it. The last post on Litepay's Twitter account is from March 16, when he announced the unlucky AMA that dramatically worsened the remaining confidence in the project.

If Asare plans to sell Litepay, it could make more sense to stay calm rather than risk further anger from pitchfork wowing Litecoin Halter.


Disclosure: At the time of writing the author considers ETH, IOTA, ICX, VEN, XLM, BTC, XRB

This information should not be construed as a recommendation by cryptocurrency or any particular provider, service or offer. It is not a recommendation to act. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and vulnerable to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances and get your own advice before relying on this information. You should also review the nature of a product or service (including its legal status and relevant regulatory requirements) and consult the websites of the relevant regulatory authorities before making a decision. Finder or the author may have shares in the discussed cryptocurrencies.

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