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.
More like they realized they couldn’t grift any extra money from it.
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.
Consuming basically no resources and yet it was still losing money.