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Cryptocurrency Business

All articles tagged with #cryptocurrency business

"Reddit's IPO Filing: Bitcoin and Ether Holdings, CEO's Potential Millions, and Revenue Growth Revealed"

Originally Published 1 year ago — by CoinDesk

Reddit has disclosed in its IPO filing with the SEC that it holds bitcoin and ether as part of its excess cash investments, and has also acquired ether and Polygon as a form of payment for certain virtual goods. The company aims to go public on the New York Stock Exchange under the ticker symbol “RDDT” and expects to begin trading in March. Reddit's move to invest in digital assets comes as it seeks to become a publicly traded company, with the firm reporting $804 million in sales in 2023 and a total of $1.6 billion in assets, including $1.3 billion in cash.

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Terraform Labs, Crypto Firm, Files for Chapter 11 Bankruptcy in the US

Originally Published 2 years ago — by BBC.com

Cryptocurrency firm Terraform Labs, responsible for the collapsed TerraUSD and Luna tokens, has filed for bankruptcy in the US after losing $40bn of their value in May 2022. Co-founder Do Kwon, currently in jail in Montenegro, faces fraud charges in the US, South Korea, and ongoing legal proceedings in Singapore. The bankruptcy filing allows the company to continue operations, with CEO Chris Amani stating the action is necessary to resolve outstanding legal challenges. Do Kwon's arrest in Montenegro in March 2023 and subsequent guilty verdict for forging documents have led to a pending extradition decision to either South Korea or the US.

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