Founder of Litecoin, Charlie Lee, tweeted Friday that he will no longer be working for Coinbase. He is leaving the company to focus on his brainchild creation, Litecoin. This news comes as a welcome surprise to the Litecoin community, who are entering into a new stage of maturation, as they recently elected to activate segregated witness.
Also read: Enigma Project Announces ‘Catalyst’ a Decentralized Hedge Fund Platform
Lee’s tweet read short, but optimistic. He said, “today is my last day at @coinbase! I will miss working with you all. I am going to shift my focus to Litecoin now. To the Moon!” For the most part, this maneuver was unexpected. However, it did end up being a timely consideration for the founder, as the Litecoin ecosystem will be looking to grow and change in the interest of every participant involved.
Today's my last day at @coinbase! I will miss working with you all.
I'm going to shift my focus to Litecoin now. To the moon! 😁 pic.twitter.com/Ys9dZwtTFO
— Charlie Lee (@SatoshiLite) June 10, 2017
Litecoin and Lee: To the Moon?
Since the Litecoin ecosystem is yearning for growth and the ability to be more competitive with other cryptocurrencies, Lee’s entrance back onto the scene is an extraordinary event. It is perfect timing. This is especially true since Segwit use is currently being tested. The community may need strong and viable leadership to navigate any troubled waters while the sky clears and the horizon shifts back into focus.
Bitcoin.com covered the ecosystem’s recent move to activate segregated witness, saying, “The Litecoin community recently formed a round table consensus for activation of the Segwit protocol. Most agreed that turning on Segwit is the correct course of action for maintenance and short-term scalability of Litecoin.”
With this happening, everyone in the community will likely look to Lee for guidance and wisdom. It will be interesting to see where Litecoin goes from here. Could it really be to the moon?
What do you think about Lee leaving Coinbase? Will this bring further improvements to the Litecoin ecosystem? Let us know in the comments below.
Images via Shutterstock and Coinbase.com
Need to calculate your bitcoin holdings? Check our tools section.