coinspress.com
Vitalik Buterin, co-founder of Ethereum and a prominent developer, recently commended Reddit for its forthcoming initial public offering (IPO) and its move towards embracing contributor ownership.
However, he expressed disappointment regarding the constraints imposed by U.S. regulations on Reddit’s contributors.
Reddit serves as a vital platform for global crypto enthusiasts and investors, facilitating interactions, discussions, and the dissemination of news within the crypto community. Numerous subreddits are dedicated to various crypto projects, tokens, and companies.
In a statement shared on Warpcast, Buterin praised Reddit’s initiative in exploring contributor ownership, while lamenting the regulatory hurdles faced, noting, “I know this is totally the fault of regulation and not Reddit themselves, but this made me sad.” He emphasized the broader opportunities within the global crypto economy.
Buterin’s remarks followed Reddit’s announcement of its Directed Share Program (DSP), enabling eligible users and moderators to purchase stock at discounted rates alongside institutional investors as part of Reddit’s IPO. However, eligibility for this program is limited to U.S. residents, prompting Buterin to advocate for a more inclusive model for community contributor involvement, such as airdrops.
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Reddit’s recent filing for its IPO on February 22, 2024, revealed investments in Bitcoin and Ethereum, signaling a strategic move towards embracing blockchain technology. The company’s investment policy prioritizes risk mitigation and investment in cryptocurrencies, likely avoiding regulatory classification as securities.