Reddit puts its cryptocurrency plans on hold

Reddit has reportedly put its plans to issue its own cryptocurrency, called Reddit Notes, on hold. First announced late last year, Reddit Notes were intended to be a way for the social news aggregator to give ten percent of a recent funding round — some $ 5 million — to Reddit’s users. But Alexis Ohanian, Reddit’s executive chairman, said today that the company’s research told it to “wait until the law and technology around cryptocurrency are further along before deciding exactly how” to issue Reddit Notes.

The cryptocurrency was floated as an idea after a successful round of capital funding, which saw the company draw $ 50 million from investors such as Marc Andreesen. Reddit asked for suggestions for ways to give a chunk of that money…

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