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Reddit Sold Most of Its Bitcoin During the Third Quarter, SEC Filing Shows

  • Reddit sold most of its crypto holdings during the third quarter, according to a filing with the US SEC.
  • The social media platform dumped $6.8 million worth of Bitcoin and Ethereum but said the gains were 'immaterial.'
  • Reddit is still holding another crypto, POL, and will require board approval for future crypto investments.
  • The company's stock rose by 42% after the filing, and it reported a net income of $30 million in Q3.

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