The supermarket giant revealed on Monday that the entity would start accepting payments with Litecoin from October 1. The claim ended up being a false statement.
Walmart, the multinational corporation that runs the largest supermarket stores in the United States of America, is not taking a step toward adopting cryptocurrencies, despite the rumors that appeared through various media outlets.
According to a statement on Monday, the number one retailer in the United States of America reported that it would start accepting Litecoin (LTC) payments early next October. However, a spokesperson for the firm told CNBC that the statement was a false alarm.
Previous information stated that the initiative was the product of a partnership with the Litecoin Foundation, the organization in charge of promoting the adoption of such a cryptocurrency.
Also, the millions of Walmart customers around the world could, for the first time, take advantage of a cryptocurrency to purchase food and products in the supermarket chain.
The statement also shows that the email address used was not an official channel of Walmart, according to Decrypt. On the other hand, the bogus note cited alleged statements by Walmart CEO Doug McMillon.
Walmart Denies Adoption of Litecoin
The false news represented one of the most relevant cryptocurrency adoption announcements in these times, considering the presence that Walmart enjoys internationally.
The US retailer had already raised speculation about possible crypto adoption in August. It occurred after posting a job vacancy for a leading cryptocurrency expert.
The announcement about the integration of Litecoin was not a surprise after the previous rumors. Although various members of the community expressed concern due to the particular choice of that currency instead of Bitcoin or Ethereum, which are usually the most adopted due to their recognition in the market.
The media have been denying, correcting, and upgrading their publications regarding the false adoption of LTC by Walmart.
CNBC acquired confirmation from a Walmart representative that the press release was false. The authorities initiated operations to investigate, with GlobeNewsWire, the possible ways on how this post could have reached the internet.
However, the user account that released the note on GlobeNewsWire is not official from Walmart. The web domain (walmart-corp.com) does not take part in the company as corporate.walmart.com does.
On the other hand, in the official Walmart press room, there is a statement where Walmart assures that the information is false and there are zero relationships with Litecoin.
US Department of Justice is Investigating
According to businesswoman and bitcoin enthusiast, Caitlin Long, the US Securities and Exchange Commission (SEC) would not be the one who would investigate this episode of alleged market manipulation.
The Department of Justice (DOJ) Federal would already be requesting information from exchanges about who has exchanged LTC during the period of volatility.
By: Jenson Nuñez