BlockBeats News, on October 31st, according to a document submitted to the US Securities and Exchange Commission (SEC) by the social media website Reddit, Reddit sold most of its cryptocurrency portfolio in the third quarter, discarding BTC and ETH for ‘financial reserves’. When the social media company submitted its Initial Public Offering (IPO) application in February, it held a ‘negligible’ amount of cryptocurrency on its balance sheet and used idle funds to purchase digital assets. On Tuesday, Reddit used the same wording to describe the recent sale of profits. ‘We sold most of our cryptocurrency portfolio, primarily including BTC and ETH,’ Reddit said. ‘The net book value of the cryptocurrency we hold and the proceeds from the sale are irrelevant.’ Although the exact quantity of cryptocurrency sold is unclear, the sale occurred in the third quarter ending on September 30th. When asked for the definition of the dollar value of its cryptocurrency portfolio or the ‘negligible’ amount, Reddit did not immediately respond to Decrypt’s request for comment. (Decrypt)
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Reddit descartou a maioria dos seus ativos de criptografia no Q3.
BlockBeats News, on October 31st, according to a document submitted to the US Securities and Exchange Commission (SEC) by the social media website Reddit, Reddit sold most of its cryptocurrency portfolio in the third quarter, discarding BTC and ETH for ‘financial reserves’. When the social media company submitted its Initial Public Offering (IPO) application in February, it held a ‘negligible’ amount of cryptocurrency on its balance sheet and used idle funds to purchase digital assets. On Tuesday, Reddit used the same wording to describe the recent sale of profits. ‘We sold most of our cryptocurrency portfolio, primarily including BTC and ETH,’ Reddit said. ‘The net book value of the cryptocurrency we hold and the proceeds from the sale are irrelevant.’ Although the exact quantity of cryptocurrency sold is unclear, the sale occurred in the third quarter ending on September 30th. When asked for the definition of the dollar value of its cryptocurrency portfolio or the ‘negligible’ amount, Reddit did not immediately respond to Decrypt’s request for comment. (Decrypt)