October 17, 2019, 6:42PM EDT
• 3 min read

Litecoin Foundation 2Q19 update: Reserves increase as Litecoin's price appreciation more than offsets operating loss

Quick Take

  • The Litecoin Foundation released its unaudited 2Q19 financial statements last week
  • Although the foundation only reported $13,600 in donations during the quarter, the foundation claims to have received “hundreds of thousands of dollars” worth of donations which were used to fund certain projects directly (i.e. its partnership with the Miami Dolphins)
  • 2Q19’s operating loss of $13,000 ate through the organization’s reserve of mostly LTC, but this was more than offset by LTC’s increase in price
  • Litecoin founder, Charlie Lee, notes that the foundation currently has around $200,000 in assets which he believes will give the foundation about 2 years of runway

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