Fake news release announces crypto partnership

Walmart is denying a press release that said it would start partnering with Litecoin, one of the oldest cryptocurrencies.

“Walmart has no relationship with Litecoin,” the retailer said in a statement on its website, noting the company had been “the subject of a fake news release.”

The release was sent out by GlobeNewswire at 9:30 a.m. EDT but has since been removed. Litecoin had tweeted the press release, which claimed Walmart would start accepting the digital currency starting Oct. 1 but then deleted the tweet.

Several news outlets published reports based on the release before Walmart denied the release. Litecoin briefly soared more than 25% but erased gains after Walmart said it was fake. Litecoin’s stock was last trading down 5%.

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