• jarfil@lemmy.world
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      1 year ago

      Or rather… the tokens were held on a sidechain created in collaboration with FTX… yes, that FTX, the one that “misplaced” a bunch of billions of dollars, and for a long time it took a somewhat elaborate way to convert Reddit community points (Moons, Bricks) into USD.

      A couple months ago, after the API debacle, the tokens got listed on Kraken… and their value took a quick nosedive.

      They “IPO-ed” them, and it failed, so now they’re slashing them.