Charlie Lee: The Litecoin Foundation has an annual budget of less than $100,000.

Liteco coin founder Charlie Lee recently revealed in an interview that the Litecoin Foundation has an annual budget of less than $100,000. Because there is no Litecoin ICO, the project relies mainly on donations and business income to fund operations. In addition, Franklyn Richards, director of the Litecoin Foundation, said that most of the core team's core team contributes to the project in their spare time. Only a few core employees are paid for their work. Even directors including Richards and Charlie Lee did not receive any income from the foundation. When asked if this affected or hindered the development of Litecoin, Richards said that the project has been operating in this way so far, and that it does not negatively impact the development process.