Summary:
Social media platform Reddit filed an S-1 registration statement with the Securities and Exchange Commission (SEC) on Thursday, in a bid to go public on the New York Stock Exchange (NYSE). The filing revealed that the company has invested some of its “excess cash reserves” into multiple cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). According to the filing, the company also acquired both ETH and one of the network;s layer 2 tokens, Polygon (MATIC) “as a form of payment for sales of certain virtual goods.” “We also acquired and hold digital assets that are cryptocurrencies for use by our product and engineering teams, which is limited to specific uses,” the company stated. As of December 31, the firm clarified that it only held BTC and ETH as crypto assets
Topics:
Andrew Throuvalas considers the following as important: featured1, reddit
This could be interesting, too:
Social media platform Reddit filed an S-1 registration statement with the Securities and Exchange Commission (SEC) on Thursday, in a bid to go public on the New York Stock Exchange (NYSE). The filing revealed that the company has invested some of its “excess cash reserves” into multiple cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). According to the filing, the company also acquired both ETH and one of the network;s layer 2 tokens, Polygon (MATIC) “as a form of payment for sales of certain virtual goods.” “We also acquired and hold digital assets that are cryptocurrencies for use by our product and engineering teams, which is limited to specific uses,” the company stated. As of December 31, the firm clarified that it only held BTC and ETH as crypto assets
Topics:
Andrew Throuvalas considers the following as important: featured1, reddit
This could be interesting, too:
Jordan Lyanchev writes ETH Price Slips Below .5K as Spot Ethereum ETFs Reach 1M Trading Volume in 90 Minutes
Chayanika Deka writes Ethereum Turns 10: A Decade of Blockchain Revolution
Jordan Lyanchev writes Bitcoin Dumped K in Minutes After President Joe Biden Ended 2024 Election Campaign
George Georgiev writes Here Are This Week’s Best Performing Cryptocurrencies: Weekend Watch
Social media platform Reddit filed an S-1 registration statement with the Securities and Exchange Commission (SEC) on Thursday, in a bid to go public on the New York Stock Exchange (NYSE).
The filing revealed that the company has invested some of its “excess cash reserves” into multiple cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).
- According to the filing, the company also acquired both ETH and one of the network;s layer 2 tokens, Polygon (MATIC) “as a form of payment for sales of certain virtual goods.”
- “We also acquired and hold digital assets that are cryptocurrencies for use by our product and engineering teams, which is limited to specific uses,” the company stated.
- As of December 31, the firm clarified that it only held BTC and ETH as crypto assets for treasury purposes. It also said that the net carrying value of its BTC and ETH holdings was, at that time, “immaterial.”
- In the future, Reddit does not intend to invest in other cryptos unless they are identified as likely not being securities by federal regulators.