No, Walmart isn’t accepting crypto payments in Litecoin – CNET

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A Litecoin Foundation representative said the group hasn’t entered into a partnership with Walmart. 

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Walmart has been rumored to be developing a digital currency strategy, but the retail giant isn’t ready to start accepting cryptocurrency just yet. Walmart on Monday confirmed that a press release that said the retailer was going to offer a pay-with-Litecoin option was fake. GlobeNewswire, a press release distributor, published the fake release earlier Monday.

The hoax sent the value of Litecoin soaring nearly 30% to about $225 on Monday morning, according to CoinDesk. It has since dropped back down to around $178.

While the press release was fake, Walmart does appear to be exploring how it could work with cryptocurrencies in the future. Last month, a career listing on the retailer’s website said it was looking to hire a cryptocurrency product lead who would develop the company’s digital currency strategy and road map. 

A representative for the Litecoin Foundation said Monday that it hasn’t entered into a partnership with Walmart, adding that the group has “no idea where this story came from.”

Walmart directed further questions to GlobeNewswire, which also verified that the release was fake in a “notice to disregard” the earlier information. Neither Walmart nor GlobeNewswire immediately responded to a request for comment.

See also: Cryptocurrency pump-and-dump schemes: Everything you should know about these scams

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The hoax release included fake quotes from Walmart executives. 

Screenshot by CNET

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