Monday’s Litecoin (CRYPTO: LTC) spike thanks to a fake press release about its non-existent partnership with Walmart Inc (NYSE:WMT) is a wake-up call to not take “this stuff so seriously,” as per Dogecoin (CRYPTO: DOGE) co-creator Billy Markus.

What Happened: Markus reacted to the LTC-Walmart phony news and noted that multiple mainstream news outlets reported the false story. He also pointed out that gains in LTC were erased in minutes.

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Former hedge fund manager and Bitcoin investor Michael Novogratz had a laugh on those who purchased LTC on the Walmart news.

Entrepreneur Anthony Pompliano, a Bitcoin (CRYPTO: BTC) said the U.S. Department of Justice will look for the people responsible for the fake press release but the attention should be on media regulation.

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“We try our best to not tweet fake news and this time we really screwed up,” he said — adding, “I deny that it has anything to do with us and we’ll try our best to figure out who did it — and we will stop fake news from spreading.”

As for Walmart, the company too took to Twitter to deny its relationship with LTC and issued a full-length statement as well.

Price Action: LTC traded 0.37% higher at $178.48 at press time. The cryptocurrency has fallen 23.41% from an intraday peak of $233.06.

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