Documents submitted by Reddit to the U.S. Securities and Exchange Commission (SEC) show that it sold off most of its cryptocurrency portfolio in the third quarter, valued at nearly $6.90 million, which included Bitcoin and Ethereum that were previously held "for financial purposes." Reddit stated, "We sold off most of our cryptocurrency portfolio, primarily consisting of Bitcoin and Ethereum, and the net carrying value of the cryptocurrencies held and the proceeds from the sale are not significant."

According to Foresight News, documents submitted by Reddit to the U.S. Securities and Exchange Commission (SEC) reveal that it sold the majority of its cryptocurrency portfolio in the third quarter, valued at nearly $6.90 million, which includes Bitcoin and Ethereum that were previously held "for financial purposes." Reddit stated, "We sold the majority of our cryptocurrency investments, primarily consisting of Bitcoin and Ethereum, and the net book value of the cryptocurrencies held and the gains from the sales are not significant."

Reddit sold off most of its cryptocurrency holdings in the third quarter, valued at nearly $6.90 million.

Reddit sold off most of its cryptocurrency holdings in the third quarter, valued at nearly $6.90 million.