Reddit has experienced a turning point in the crypto world! 🚀 The famous social media platform sold a large portion of its Bitcoin (BTC) and Ethereum (ETH) assets in the third quarter of 2024, earning a total of $6.87 million. This sale allowed Reddit to make a profit for the first time in its 19-year history, earning a total profit of nearly $30 million.

- Reddit announced its crypto investments in its IPO application to the SEC in February 2024.

- The platform began accepting premium membership payments with crypto in 2013.

- In 2020, it launched the Ethereum-based Community Points system and introduced the MOON and BRICK tokens.

However, Reddit is stepping back from its crypto strategies. In its latest filing with the SEC, it stated that it was concerned about the uncertainties surrounding the long-term adoption of crypto assets. Therefore, future crypto investments will require board approval and will be limited to Bitcoin, Ethereum, and other non-security tokens.

What do you think about this move by Reddit? Let's meet in the comments! 💬