Close Menu
Cryprovideos
    What's Hot

    Prime 8 Greatest Altcoins to Purchase for Subsequent Bull Run That Consultants Are Quietly Accumulating

    June 25, 2025

    Trump Media's Eyes SEC Approval For Twin Bitcoin and Ethereum ETF

    June 25, 2025

    Dogecoin’s Unpredictable Path: Can It Overcome Present Headwinds? ‣ BlockNews

    June 25, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Bitcoin»Reddit Sells Bitcoin Stash and Steps Away From Crypto: Particulars
    Reddit Sells Bitcoin Stash and Steps Away From Crypto: Particulars
    Bitcoin

    Reddit Sells Bitcoin Stash and Steps Away From Crypto: Particulars

    By Wayne JonesNovember 3, 2024No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email



    Reddit Sells Bitcoin Stash and Steps Away From Crypto: Particulars

    Reddit, a pioneering social media drive for crypto engagement and arguably the most well-liked dialogue discussion board, offloaded a considerable portion of its digital asset holdings within the third quarter of 2024.

    In its newest regulatory submitting, the corporate revealed that it bought most of its Bitcoin (BTC) and Ethereum (ETH) treasury property, producing $6.87 million.

    Reddit Hits Revenue

    The tidy sum raked in from the sale helped Reddit flip a revenue for the primary time in its 19-year existence, amounting to only beneath $30 million.

    It first revealed the crypto investments in a February 2024 IPO submitting with the Securities and Trade Fee (SEC), stating that it had invested a few of its extra money reserves in a number of cryptocurrencies, together with BTC, ETH, and Polygon (MATIC).

    In line with that submitting, the ETH and MATIC have been primarily meant to make funds for particular digital items.

    On the time, it mentioned that the web carrying worth of the property in query was “immaterial.” The social platform additionally indicated that it could not be investing in every other cryptocurrencies until involved authorities confirmed they weren’t securities.

    For years, the platform has maintained a powerful affiliation with crypto, being one of many earliest areas to experiment with blockchain expertise. Some memorable milestones embrace its resolution in 2013 to just accept premium membership funds utilizing crypto.

    Moreover, in 2020, it launched an Ethereum-based Neighborhood Factors system, pioneering engagement via digital property. The system concerned two tokens, MOON and BRICK, which the social community used to incentivize contributions inside particular subreddits.

    The corporate later developed a blockchain-based pockets known as “Vault,” which allowed customers to handle the 2 tokens and different digital collectibles. This was adopted by the rollout of Polygon-based NFT avatars in 2021.

    Retreat From Crypto-Pushed Methods

    Nevertheless, in its newest submission to the SEC, Reddit expressed an evolving outlook on crypto property. Whereas acknowledging the business’s “important potential,” the corporate mentioned it was fearful about uncertainties surrounding their long-term adoption.

    Additional, it has bolstered its cautious stance by updating its funding coverage to require board approval for any future crypto purchases, which might be restricted to Bitcoin, Ethereum, and different non-security tokens.

    Furthermore, the platform has since decommissioned its Neighborhood Factors system, blaming the transfer on scalability challenges. It has additionally phased out its acceptance of cryptocurrency for funds, reflecting a gradual discount in blockchain initiatives that beforehand engaged customers.

    Curiously, Reddit’s resolution to divest got here earlier than Bitcoin’s current rally, which noticed the asset climb agonizingly near its all-time excessive of $73,737.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Unique): Use this hyperlink to register a brand new account and obtain $600 unique welcome provide on Binance (full particulars).

    LIMITED OFFER 2024 at BYDFi Trade: As much as $2,888 welcome reward, use this hyperlink to register and open a 100 USDT-M place without cost!



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Prime 8 Greatest Altcoins to Purchase for Subsequent Bull Run That Consultants Are Quietly Accumulating

    June 25, 2025

    Trump Media's Eyes SEC Approval For Twin Bitcoin and Ethereum ETF

    June 25, 2025

    Dogecoin’s Unpredictable Path: Can It Overcome Present Headwinds? ‣ BlockNews

    June 25, 2025

    Greatest Crypto to Purchase for Q3? BTC Bull Token Enters Closing Week of Presale – CryptoDnes EN

    June 25, 2025
    Latest Posts

    Trump Media's Eyes SEC Approval For Twin Bitcoin and Ethereum ETF

    June 25, 2025

    Greatest Crypto to Purchase for Q3? BTC Bull Token Enters Closing Week of Presale – CryptoDnes EN

    June 25, 2025

    21 Years Later: Michael Saylor Sees Bitcoin At $21M—Particulars

    June 25, 2025

    Anthony Pompliano’s crypto enterprise buys $386M in Bitcoin

    June 25, 2025

    Texas Targets Crypto Crime with New Bitcoin Seizure Legislation: Greatest Chilly Wallets To Keep Protected

    June 25, 2025

    Agency Run by Anthony Pompliano Buys $387,000,000 Value of Bitcoin in New BTC Treasury Technique – The Day by day Hodl

    June 25, 2025

    Wonderful AI Proclaims Adoption Of A Bitcoin Treasury Coverage

    June 25, 2025

    New Bitcoin Whales Are Fueling Market Volatility | Weekly Whale Watch

    June 25, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Binance Futures Expands Buying and selling Choices with New Contracts

    December 30, 2024

    AI Agent Tokens Surge 39.4%, Main Crypto Market's Comeback

    May 1, 2025

    Binance Sq. Launches Dealer Profiles for Smarter Buying and selling | Reside Bitcoin Information

    February 23, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.