According to breaking information, social media platform Reddit reported that it has converted its excess cash into Bitcoin and Ethereum and plans to continue this in the future.
Reddit added Ethereum and MATIC assets as a form of payment for the sale of certain virtual products.
Social media platform Reddit made public its paperwork for an initial public offering (IPO) in the United States on Thursday.
The IPO filing comes almost two decades after Reddit’s founding.
Reddit was valued at $10 billion in a financing round in 2021, and it is unclear what value the company will target during its share sale in the coming weeks.
*This is not investment advice.
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