Fake news release announces crypto partnership

Walmart is denying a press release that mentioned it might begin partnering with Litecoin, one of many oldest cryptocurrencies.

“Walmart has no relationship with Litecoin,” the retailer mentioned in a statement on its website, noting the corporate had been “the topic of a faux news release.”

The release was despatched out by GlobeNewswire at 9:30 a.m. EDT however has since been eliminated. Litecoin had tweeted the press release, which claimed Walmart would begin accepting the digital foreign money beginning Oct. 1 however then deleted the tweet.

Several news retailers printed reviews based mostly on the release earlier than Walmart denied the release. Litecoin briefly soared greater than 25% however erased positive aspects after Walmart mentioned it was faux. Litecoin’s inventory was final buying and selling down 5%.

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This is not the primary time faux press releases acquired consideration. In 2017, a fabricated news release circulated that claimed McDonald’s would submit an unsolicited bid to acquire fast-casual chain Chipotle Mexican Grill.

Ahead of April Fools’ Day, Volkswagen claimed it was changing its name in the U.S. to “Voltswagen” in a nod to the corporate’s heightened dedication to electrical autos, a major pattern within the auto business after General Motors, Jaguar and Volvo lately revealed plans to part out gasoline automobiles. 

The German automaker had confirmed to retailers together with USA TODAY that it was not a joke however a real change. The firm later admitted it was a joke.

Contributing: Nathan Bomey and Jessica Menton, USA TODAY

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About the Author: Daniel