News outlets including CNBC and Reuters were duped on Monday by a fake press release announcing that Walmart was going to begin accepting a cryptocurrency for payment.
The brouhaha began with a sponsored Globe Newswire press release early in the day claiming that Walmart would begin accepting the digital currency known as Litecoin for transactions. The release was promoted by Litecoin News, a social-media handle verified on Twitter, and quickly spread to CNBC, where David Faber and Jim Cramer expressed confusion over the news.
“How do you pay at Walmart with Litecoin?” Faber asked, prompting Cramer to reply, “Look, I got to tell you — I just say, OK, can we just say that this is becoming farcical? I