Payments processor LitePay has ceased operations and CEO Kenneth Asare is preparing to sell the company, the Litecoin Foundation announced in a public letter to the litecoin (LTC) community. The letter says Asare informed the foundation of the situation a couple of days ago. It also says that litecoin was doing “perfectly fine” before LitePay emerged and will continue to do so. The foundation says it is sorry that it didn’t perform “enough due diligence” soon enough to uncover what it says were transparency and money issues at LitePay. Read more here.

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