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Reddit mods dumped tokens hours before blockchain program termination (cointelegraph.com)

submitted 1 year ago by lvxferre@lemmy.ml to c/snoocalypse@lemmy.ml

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Summary: Reddit warns mods that it's ending its crypto program, before it warns the other users. What could go wrong? /s

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[–] Pika@sh.itjust.works 16 points 1 year ago* (last edited 1 year ago) (1 children)

concidering mods are not staff but volunteers on reddit, would this be concidered insider trading even? It's not like the mods are on payroll for reddit. If this information was shared on the reddit which is a public info source, it could also be deemed public knowledge at that point regardless if I understand it right.

edit: looking into it, it appears the info "might" have been shared an hour before launch in a moderator only call, if that's true I'm still curious if it was insider trading but it's definitly a bigger chance it is

[–] lvxferre@lemmy.ml 9 points 1 year ago

I'm not informed even in the laws of my own country, let alone some other country like USA. That said, based on this Wikipedia link, it would - because for a small time period, they didn't disclose the info at large, but only to a handful of individuals.

And regardless of the applicability of the law, on the best hypothesis it's Reddit Inc. doing stupid shit again, screwing with the userbase for no good reason, because whoever is in charge of the company is as insightful as a brick.