• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin

    Bitcoin worth $4.5 billion transferred in historic event

    MicroStrategy  partners with MIT to strengthen Bitcoin  network 1

    MicroStrategy partners with MIT to strengthen Bitcoin network

    Bitcoin

    Bitcoin remains bearish despite breaking $48,000 mark

    Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI

    Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

    MicroStrategy

    MicroStrategy buys more Bitcoin yet again

    DOGE price prediction

    DOGE Price Prediction: Dogecoin on the brink of a 50 percent price depreciation

    FATF

    Bitcoin could soon be adopted for international exchange – CitiBank Analyst

    Did the Farmcubation of $EBOX Work? 2

    Did the Farmcubation of $EBOX Work?

    ethbox Smart Contract Code is Fully Audited and As Secure As Possible 3

    ethbox Smart Contract Code is Fully Audited and As Secure As Possible

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin

    Bitcoin worth $4.5 billion transferred in historic event

    MicroStrategy  partners with MIT to strengthen Bitcoin  network 4

    MicroStrategy partners with MIT to strengthen Bitcoin network

    Bitcoin

    Bitcoin remains bearish despite breaking $48,000 mark

    Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI

    Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

    MicroStrategy

    MicroStrategy buys more Bitcoin yet again

    DOGE price prediction

    DOGE Price Prediction: Dogecoin on the brink of a 50 percent price depreciation

    FATF

    Bitcoin could soon be adopted for international exchange – CitiBank Analyst

    Did the Farmcubation of $EBOX Work? 5

    Did the Farmcubation of $EBOX Work?

    ethbox Smart Contract Code is Fully Audited and As Secure As Possible 6

    ethbox Smart Contract Code is Fully Audited and As Secure As Possible

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Litecoin News

Litecoin price may be affected due to a broke Litecoin Foundation?

Saad B. Murtaza by Saad B. Murtaza
October 12, 2019
in Litecoin News
2 min read
litecoin price affected due to broke litecoin foudnation
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

Litecoin price is currently standing at a dwindling fifty-five dollars ($55.86) while in the past thirty days, Litecoin price is down by over sixty-eight percent (68.75%) since the price on 18th of September 2019.

litecoin price chart - 12 october 2019

Litecoin price chart by Trading View

RelatedPosts

Litecoin price prediction: LTC to fall to $150 support level

Litecoin price prediction: Can LTC make a recovery to $240?

Litecoin price prediction: LTC to $220, analyst

Litecoin price prediction: LTC to rise to $170 resistance

While the Litecoin price hit the lowest point on the 26th of September at fifty-one dollars ($51) mark it also hit sixty dollars ($60) mark on the 9th of October. However, all said and done Litecoin price is failing to find support. It is currently trading in the worst conditions since the Litecoin halving event.

While on the other hand, the Litecoin Foundation (LF) has almost run out of money. This year, LF is down to seventy thousand dollars ($70,000) in a negative, from its last year’s income of more than a million dollars ($1,000,000).

Litecoin price may be affected?

LF’s one million dollar income was from a donation of eight hundred and thirty thousand dollars ($830,000), and a total income from merchandise sales which amounted to around two hundred thousand dollars ($200,000).

Supposedly, the merchandise sales refer to the sale of shirts with hodl printed on them, and revenue from the Litecoin Summit.

LF lost eighty thousand dollars ($80,000) on merchandise which originally cost two hundred and eighty thousand dollars ($280,000) but sold for two hundred thousand dollars (200,000).

The founder of Litecoin, Charlie Lee has stated that the foundation has estimated its runway to stretch over a period of one to two years, subjective upon the Litecoin Summit’s finances. He added that currently, LF has around two hundred thousand dollars ($200,000).

LF spends one hundred and thirty-seven thousand dollars ($137,000) on staff, thirty-six thousand dollars ($36,000) on its marketing, over twenty-four thousand dollars ($24,500) on legal charges, and over four thousand dollars ($4,500) on its advertising. The net value doesn’t support the foundation’s claims of it having a two-year-long runway.

LF also has a deal with TokenPay and WEG Bank that cost the foundation over two million dollars ($2.8M).

Last year, the foundation acquired ten percent (10%) of WEG Bank, with a choice to get another eighty percent (80%). This option may have cost them over two million dollars (2.8M).

LF is currently spending one thousand and five hundred dollars ($1,500) on cloud and software services. This may only be the cost of the foundation’s website, and this does not include any development cost or charges.

This may be since the foundation doesn’t possess any. Charlie Lee sold all of his Litecoin in Q4 2017, making himself a millionaire.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

Related Posts

Litecoin price
Litecoin News

Litecoin price prediction: LTC to fall to $150 support level

February 26, 2021
Litecoin price
Litecoin News

Litecoin price prediction: Can LTC make a recovery to $240?

February 22, 2021
Litecoin price prediction: LTC to $220, analyst
Litecoin News

Litecoin price prediction: LTC to $220, analyst

February 10, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

LetsExchange Launches Crypto Exchange Platform, Caters to Novices and Expert Traders Alike 7

LetsExchange Launches Crypto Exchange Platform, Caters to Novices and Expert Traders Alike

March 2, 2021
Bitcoin

Bitcoin worth $4.5 billion transferred in historic event

March 1, 2021
MicroStrategy  partners with MIT to strengthen Bitcoin  network 8

MicroStrategy partners with MIT to strengthen Bitcoin network

March 1, 2021
Bitcoin

Bitcoin remains bearish despite breaking $48,000 mark

March 1, 2021
Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI

Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

March 1, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 9

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.