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Charlie Lee sold his LTC as there is a "conflict of interest" with him holding litecoin , like he is manipulating the market kind of stuff ! He did that to end such kind of rumours!

Just look at Ripple to compare.. How much of it the founder owns? Hmmm....

Basically, he knows litecoin is only going to increase in value. How would it look if he held a large portion and kept speaking so positively about it? People would assume he's lining his pockets. His move was very healthy for the currency.