Reuters, Bloomberg jump on fake Walmart story, causing crypto panic

By Ovunc Kutlu

ANKARA (AA) – A fake news story carried by outlets such as Reuters and Bloomberg claiming that the US’ largest retailer would be accepting cryptocurrency payments rocked financial markets Monday.

The outlets reported that the Walmart chain had partnered with Litecoin, but the retail giant later denied any such move.

On the news, the price of Litecoin climbed from $175 to as high as $240 at 9.45 a.m. EDT, up 37% in just minutes, before falling back to its initial price.

Investors and Litecoin holders took their frustration to Twitter, blasting the outlets for the fake news, and the sudden fluctuation of the price of the digital currency.