It has been almost a week since the Litecoin handle posted the now often used phrase “Due to current market conditions I now identify as a memecoin.” It was a lighthearted jab at the crypto market’s current state of affairs, and a self-deprecating acknowledgement that although one of the oldest and most reliable cryptocurrencies in the world, Litecoin’s accomplishments have been overshadowed and largely unnoticed the past few years due to other fads within the industry. In a gesture of goodwill, Dogecoin (@dogecoin the king of memecoins and merged mined with Litecoin since 2014), asked Greg (@greg16676935420) to draw Litecoin a new mascot to go along with our post. Which Greg did. We thank them for playing along with such an impromptu poke at ourselves, and genuinely thank them both for the gesture. Unfortunately, a group of individuals immediately took the mascot intended for Litecoin and its loyal community and used it to create a ‘lestercoin’ on the Solana blockchain. Though this is a free market and what this group did is not technically illegal, it has caused confusion for many who have or are now following @litecoin on X. The @litecoin handle does not have any affiliation with, or intent to consciously promote or acknowledge those using the name or likeness of Lester on Solana. It is not the official mascot of Litecoin in any manner. It has been a struggle over the years to provide quality information about Litecoin’s advancements and hockey stick growing on-chain metrics over the past 7 years, and we intend to utilize the likeness and popularity of Lester to help do this in the future. Out of respect for Greg, we immediately asked him if it was okay to use Lester and his image in order to do this and to potentially help drive donations through Lester merchandise and other future efforts from the @LTCFoundation online store, as Litecoin was fairly launched in 2011 with no pre-mine, no VC backing, and a non-profit 501c3 foundation using a shoestring budget to help further the adoption and education of Litecoin globally. Greg was gracious enough to allow and support this, and we thank him for his kindness and ability to see the bigger picture. Litecoin is considered the silver to Bitcoin’s gold and the most preferred way to pay and transact for goods and services globally, and this has not changed. @litecoin will continue to evolve in its efforts to be more engaging, informative, and entertaining. We expect it to lose some of its following with this post, but it is important for the community and the crypto market as a whole to know where we stand on this situation for the sake of clarity and overall integrity of the X handle. We thank everyone who has engaged with us and will continue to engage with us in the future. We look forward to many happy days ahead for all as we continue to take the L, and ask you continue to be the beautiful sexy beaches you are. Sincerely, The Litecoin Intern