Reddit, the popular social media platform with over 70 million users, has disclosed that it holds some of its excess cash reserves in Bitcoin and Ether.<\/p>\n
The investments were discovered in a Form S-1<\/a> filed with the Securities and Exchange Commission on Feb. 22. The S-1 filing marks the first step towards Reddit\u2019s highly anticipated initial public offering (IPO).<\/p>\n The filing also mentions that the company \u201cacquired Ether and Matic as a form of payment for sales of certain virtual goods, which we may continue to do in the future.\u201d<\/p>\n While the company hasn\u2019t disclosed the value of the crypto it holds, notes to the financial statements indicate the amount is \u201cimmaterial.\u201d<\/p>\n <\/p>\n Ether briefly spiked to $3,035 on the news \u2013 its highest level this year.<\/p>\n Reddit is no stranger to crypto, having experimented with community tokens<\/a> and multiple NFT collections<\/a> over the past two years.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Reddit, the popular social media platform with over 70 million users, has disclosed that it holds some of its excess cash reserves in Bitcoin and Ether. The investments were discovered in a Form S-1 filed with the Securities and Exchange Commission on Feb. 22. The S-1 filing marks the first step towards Reddit\u2019s highly anticipated […]<\/p>\n","protected":false},"author":2,"featured_media":252481,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-252480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/252480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=252480"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/252480\/revisions"}],"predecessor-version":[{"id":252483,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/252480\/revisions\/252483"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/252481"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=252480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=252480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=252480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"ETH](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2Fe25b70d6804656453f8376622cd93b65d2bbbe6e-1003x580.jpg&w=828&q=100\")