The maker of litecoin Charlie Lee stated that to continue to Fund the work of the team Litecoin Foundation despite rumors of its negative financial performance. This is told Coin Desk.
He noted that the dominance of the “bear” sentiment in the cryptocurrency market have hurt revenues of the company-developer of litecoin. From 2017, the financing of the Fund was about 80% in the form of donations.
Charlie ready for their own expense to Finance the work of Litecoin Foundation, but he stressed that it would strive to ensure that the team had an income and were able to implement their own products.
According to the head of the Board of Directors Litecoin Foundation of Sinisi van, donations in the first quarter of this year fell sharply. However, the Fund expects them to increase after the second quarter.
The size of donations in the second quarter may be several hundred thousand dollars. The Fund’s management in early 2019, has reduced staff salaries, and some of them voluntarily agreed to receive less than before.
Charlie Lee said:
There were several occasions when the employees themselves requested that their salary was reduced during the market downturn to further support the Fund.
Note that litecoin after a surge in the early summer began to rapidly lose ground. Even halving in August did not help to strengthen the demand for the digital currency, and now it is trading just above $70, trying to keep the current fundamental value.