According to Decrypt, documents submitted by the social media site Reddit to the U.S. Securities and Exchange Commission (SEC) indicate that it has sold off most of its cryptocurrency portfolio in the third quarter, including Bitcoin and Ethereum, which were previously "used for financial reserves." Reddit stated: "We have sold most of our cryptocurrency portfolio, primarily consisting of Bitcoin and Ethereum, and the net carrying value of the cryptocurrencies we held and the gains from the sale are both insignificant." While the exact amount of cryptocurrency sold remains unclear, the sale occurred before the end of the third quarter on September 30.