Reddit gets into virtual currency game

Monday 22 December 2014 09:44 CET | News

Reddit has introduced its own cryptocurrency, dubbed `Reddit Notes`.

The company hired BitPay developer Ryan Charles in September 2014 to serve as Reddit’s new “cryptocurrency engineer” and assist in the currency’s integration. Reddit has recently closed a USD 50 million funding round led by Sam Altman, Marc Andreessen of Andreessen Horowitz, and Alfred Lin of Sequoia Capital.

In the fall of 2015, a random selection of 950,000 active users will be gifted Reddit Notes, according to the company`s blog. Reddit is still working out details on both the technological and legal aspects of the project, especially regarding how Reddit notes will work within existing government regulations, the same source indicates. The website is said to have roughly 6 million active registered users.

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Keywords: Reddit, virtual currency, cryptocurrency, Reddit Notes
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3

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