Litecoin Foundation's reserves dip as incoming donations stagnate

Despite the Litecoin Foundation’s frugal spending habits, the non-profit organization dedicated to building and promoting Litecoin has been eating through its reserves obtained mostly through a substantial contribution from Charlie Lee. The company relies mostly on the efforts of volunteers to function. However, revenues generated through donations and merchandise sales have been stagnant and haven’t been enough to cover operating expenses.

Donations have typically been the most prominent funding mechanism for the Foundation. However, the vast majority of it has come from a few key contributors. According to the Foundation's donation list, the Foundation has received in aggregate approximately $575,000 worth of donations since June 2017. Over 81% of that came from Litecoin’s founder, Charlie Lee, who donated 1,448 litecoins (~$468,000) in December 2017 just days before he revealed in this famous reddit post that he had unloaded his entire LTC position.