Charlie Lee Vows to Keep Funding Litecoin Foundation Amid Pay Cuts

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Litecoin creator Charlie Lee remains committed to funding the Litecoin Foundation despite rumors that its financials are in the red.Lee told CoinDesk the crypto bear market hurt the foundation’s numbers much like other projects. Since 2017, Lee’s donations have accounted for some 80 percent of the foundation’s funding.“The goal, of course, is to get Litecoin Foundation to be self-sustaining from donations, partnerships and merchandise sales,” Lee said. “Until we get to that point, I have and will continue to support the Litecoin Foundation financially as necessary.”Litecoin Foundation board director Xinxi Wang said donations dropped in the first quarter of 2019 because of the broader bear market. After Q2 audits are complete, Wang expects the foundation’s donation numbers to rise.“I don’t think there is a correlation between donations and enthusiasm,” Wang told Chinese news site XCong. “First, we did not actively solicit donations from the community in Q1. Second, the price…

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