Reddit says in listing filing that it holds 'insignificant' amounts of Bitcoin, Ethereum
Social media website Reddit stated in its listing application submitted to the SEC that it holds a small amount of cryptocurrency on its balance sheet. Reddit stated that the company invests part of its excess cash reserves in Bitcoin and Ethereum, and obtains Ethereum and Matic as payment forms by selling certain virtual goods, and may continue to do so in the future. As of December 31, 2023, Reddit declared that it does not hold any other digital assets for financial management purposes except for Bitcoin and Ethereum. Reddit also pointed out that because the amount of cryptocurrency held is not sufficient to be separately listed in financial statements, its related activities during the period presented are considered "insignificant."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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