The profits of cryptocurrencies such as bitcoin and ethereum soon plunged into the minus. Litecoin itself stood at a fairly small plus for a long time. Adoption of the 11th digital currency by market value by a major player like Walmart could be a huge boost for all cryptocurrencies.
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The fake news story was distributed via the Globe Newswire service. Walmart says it is investigating the message, which included a quote attributed to Walmart’s CEO. The message also closely resembled the press releases used by large companies to announce news.
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The fake news illustrates how easy it is to profit from fake news in the world of cryptos. Because there is no regulator, it is not immediately clear what companies can do to prevent abuse of their name.
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