#Reddit

Melvin Capital Losing Billions On GameStop From Reddit In January 2021

Crypto News Point

Feb 1, 2021
2 min

Melvin Capital Losing Billions On GameStop From Reddit In January 2021

Melvin Capital began 2021 with a whopping $12.5 billion in assets prior to retail investors from Reddit spawn the platform to drop billions on its GameStop short positions. Melvin Capital has reportedly restructured its portfolio to be able to exit securities easily amid the SEC saying it would "closely review actions" in connection to the price volatility of certain stocks https://t.co/ywHkKzks8a — Cointelegraph (@Cointelegraph) January 31, 2021 The Wall Street Journal repo

Reddit’s r/WallStreetBets Subreddit Spreads To The Crypto Space After A New Coin Appeared At The Top

Crypto News Point

Jan 30, 2021
2 min

Reddit’s r/WallStreetBets Subreddit Spreads To The Crypto Space After A New Coin Appeared At The Top

Reddit’s r/WallStreetBets subreddit has spread to the cryptocurrency space after a new coin, named “WallStreetBets (WSB)” appeared at the top of CoinMarketCap’s rankings on January 29 (Friday). It has been reported that the new coin apparently gained in excess of 130% in the past 43 hours, with a daily trade volume of $100 million. However, the new coin appears to be the latest in a series of jokes played by the CoinMarketCap team. WallStreetBets is now in the crypto game? Th

Reddit Joined With Twitter Along With Tesla In Updating Bitcoin In Twitter

Crypto News Point

Jan 30, 2021
2 min

Reddit Joined With Twitter Along With Tesla In Updating Bitcoin In Twitter

Alexis Ohanian, the co-founder of Reddit, has joined Twitter CEO Jack Dorsey and Tesla CEO Elon Musk in updating their Twitter bios to “#Bitcoin.” The @Reddit co-founder has now joined the ranks of stars to update their Twitter bio with #Bitcoin. Who is going to be evangelized next?https://t.co/W33roT0QfS — Cointelegraph (@Cointelegraph) January 29, 2021 In reaction to a tweet by tech entrepreneur and erstwhile Coinbase chief technical officer Balaji Srinivasan, Ohanian’s bi

Reddit Partners With Ethereum Foundation

Crypto News Point

Jan 30, 2021
2 min

Reddit Partners With Ethereum Foundation

Reddit, the popular social media network, is partnering with the Ethereum Foundation to boost scaling and resources. It has been reported by Reddit admin u/jarins that the aim of the partnership will be to increase the site’s “commitment to the blockchain by accelerating scaling and resources for the Ethereum ecosystem and bringing the value and independence of blockchain technology to millions of redditors.” However, in 2020, Reddit had already initiated two large Ethereum-f

Reddit’s “u/Bigtony96” Announces To Sell Entire Their Bitcoin Stash To Pay Off Their Parents’ Mortga

Crypto News Point

Jan 9, 2021
1 min

Reddit’s “u/Bigtony96” Announces To Sell Entire Their Bitcoin Stash To Pay Off Their Parents’ Mortga

A report said that Reddit’s r/Bitcoin community with a username of “u/Bigtony96” announced to have sold their entire Bitcoin (BTC) stash to pay off their parents’ mortgage. It has been reported that the Redditor unloaded a total of 6 BTC accumulated over the past three years to close out the remaining balance on their parents’ home. They said that there was enough money left over to cover taxes and, possibly, buy a new car. However, the user said: “Today is the day I’ve dream

Reddit User u/Cryptorich13 Capitalizes On The Social Media Platform’s Crypto Reward System

Crypto News Point

Dec 30, 2020
2 min

Reddit User u/Cryptorich13 Capitalizes On The Social Media Platform’s Crypto Reward System

u/Cryptorich13, a Reddit user, has capitalized on the social media platform’s crypto reward system by converting his stash of free coins into Bitcoin (BTC). It has been reported that u/Cryptorich13 explained how he converted his 80,000 Moon reward into Bitcoin earlier this year. The value of his holdings has ballooned following the latest Bitcoin price pump. He said: “I shitposted a lot in 2017. I was awarded 80k reddit moons earlier this year which I sold on the rinkeby test

Crypto News Point

Oct 2, 2020
2 min

Reddit’s MOON Devises A Way To Exchange Its ‘Community Points’ Tokens For Fiat

Reddit‘s MOON has devised a way to exchange the social platform’s ‘community points’ tokens for fiat and it’s resulted in a surprising market cap. It has been reported that in May, Reddit announced that it would begin distributing ERC-20 rewards tokens on the Rinkeby testnet among users of its cryptocurrency and Fortnite subcommunities in the form of ‘MOONs’ and ‘BRICKs.’ However, the tokens are distributed according to a user’s contributions to the respective subreddits. xMO

Reddit Co-founder Announces His Planned Actions To Fight Against Racism

Crypto News Point

Jun 7, 2020
2 min

Reddit Co-founder Announces His Planned Actions To Fight Against Racism

Alexis Ohanian, the co-founder of the online social platform Reddit, has announced his planned actions to fight against racism, as these include his desire to see a member of the black community replace him at his current board position. In a June 5 tweet, Ohanian posted: “I’ve resigned as a member of the reddit board, I have urged them to fill my seat with a black candidate.” I've resigned as a member of the reddit board, I have urged them to fill my seat with a black candid

Over 80% Redditors Signing Up For ETH-Based Rewards So Far Are Fortnite Players

Crypto News Point

May 18, 2020
1 min

Over 80% Redditors Signing Up For ETH-Based Rewards So Far Are Fortnite Players

Reddit’s Ethereum-based Community Points rewards system has seen more than 10,000 addresses created within days of launching on the Rinkeby testnet. Over 80% of wallets created on the testnet so far represents the Fortnite community. From March 13 to March 15 Reddit’s points were rolled out across two subreddit communities: Popular video game Fortnite (r/fortniteBR) Cryptocurrency (r/cryptocurrency) Founder of EthHub, Eric Conner tweeted: 10,000 Reddit users now have a wallet

Crypto News Point

May 16, 2020
1 min

Reddit’s Tokenized Rewards Will Migrate To Ethereum Blockchain By 2021

Reddit has confirmed that its tokenized rewards will migrate onto the Ethereum blockchain later this year. On May 13, Reddit officially revealed its Community Points system, announcing that the feature would be rolled out across “limited communities.” However, the rewards system will operate on a test-net until autumn 2020 at the earliest. A Reddit post confirmed that points will comprise ERC-20 tokens. However, the system will not be migrated onto the Ethereum mainnet until

Reddit Introduces New Community Points System Built On Ethereum Blockchain

Crypto News Point

May 15, 2020
2 min

Reddit Introduces New Community Points System Built On Ethereum Blockchain

Reddit has introduced its new community points system built on top of the Ethereum blockchain. On May 13th, Reddit announced that Redditors will now be able to earn rewards in the form of ERC-20 tokens based on Ethereum blockchain for creating engaging content on the platform. Wow. @reddit mobile app now has an integrated Ethereum wallet and they've launched community currencies! r/FortniteBR & r/Cryptocurrency will distribute tokens to contributors, the value of which deriv

Crypto News Point

Apr 13, 2020
2 min

Reddit May Use Community Points In The Form of Ethereum’s ERC-20 Tokens

Social media giant Reddit seems to be experimenting with Community Points in the form of Ethereum’s ERC-20 tokens. In a first of its kind, users of Reddit can now convert their Reddit time into tokens called Reddit Community Points. The launch of Community Points represents ownership of a subreddit, on Ethereum. A video on April 11 by posted Reddit user, MagoCrypto explains how the system will work based on an FAQ copy: UPDATE: Reddit’s blockchain-based points system confirme

MetaMask Contributor Says Its Team Is ‘Totally Overwhelmed’ And Not Being Prioritized By ConsenSys

Crypto News Point

Dec 27, 2019
2 min

MetaMask Contributor Says Its Team Is ‘Totally Overwhelmed’ And Not Being Prioritized By ConsenSys

A contributor of MetaMask, the major Ethereum browser extension, has reported that the MetaMask team is “totally overwhelmed” and not being prioritized by its parent company ConsenSys. https://t.co/UFvBYpSGQ0 — HITPAY WALLET (@Hitpay_wallet) December 27, 2019 On December 25, it has been reported by Reddit that lazaridiscom3, a Reddit user, alleges that the MetaMask team is not getting the support it needs from ConsenSys, and, consequently, the whole team of 24 employees is o

Redditor Introduces New Bitcoin Video Game As A Holiday Gift To Crypto Community

Crypto News Point

Dec 26, 2019
2 min

Redditor Introduces New Bitcoin Video Game As A Holiday Gift To Crypto Community

A Redditor has introduced a new Bitcoin (BTC) video game as a holiday gift to the crypto community. CoinTelegraph: Redditor Creates BTC-Themed Game as Holiday Gift for Crypto Community https://t.co/leZX1ALrAJ pic.twitter.com/MsHl51GUyV — StuartSimon (@StuartSimon) December 26, 2019 On December 24, it has been reported on Reddit that the new “Satoshi vs. the Shills” Bitcoin game is a survival shooter game featuring Satoshi Nakamoto as the main character. However, the arcade g

Torus Send Ethereum To Any Reddit Username Or Google Email Account

Crypto News Point

Dec 26, 2019
3 min

Torus Send Ethereum To Any Reddit Username Or Google Email Account

Torus, a private key management firm, announced on Reddit that they will send Ethereum (ETH) to any Reddit username or Google email account. Thank you for covering our little Christmas giveaway @Cointelegraph and yes, we are testing our Reddit transactions 🙂https://t.co/3hRHEEr38z — Torus (@TorusLabs) December 25, 2019 On December 24, it has been reported by a post on the r/ethereum community Reddit thread, where a TorusLabs member said: “We hope to be an alternative for We

Bitcoin Subreddit Sees Remarkable Increase In Its Number Of Subscribers

Crypto News Point

Dec 25, 2019
2 min

Bitcoin Subreddit Sees Remarkable Increase In Its Number Of Subscribers

The Bitcoin (BTC) subreddit has seen a remarkable increase in its number of subscribers since the cryptocurrency’s price spike last summer. Bitcoin Subreddit Subscribers Surge Following Crypto's Summer Bull Run : https://t.co/AzvHYqZi21 pic.twitter.com/v2sOOYJLZh — Morf44 (@FOREMOST_84) December 24, 2019 On December 23, it has been reported by Cypherpunk and Jameson Lopp, the proclaimed Bitcoin Maximalist, who posted a tweet by saying that “the rate of new subscribers to the