Reddit offloads most of its Bitcoin, Ether holdings
The bulk of Reddit’s cryptocurrency sales came from Bitcoin and Ether holdings, with the company reporting that gains from transactions were insignificant.
Social media network Reddit has sold the majority of its cryptocurrency holdings in the third quarter of 2024, according to a recent filing with the Securities and Exchange Commission (SEC).
The majority of the sales originated from treasury holdings in Bitcoin (BTC) and Ether (ETH). The 10-Q SEC filing reveals that the net value of the crypto assets and the gains recognized from the sale were deemed insignificant for the period:
According to the document, proceeds from the sale of cryptocurrencies were valued at $6.869 million for the three months ending on Sept. 30.
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Author: Ana Paula Pereira
