Reddit crypto community goes offline: Here’s why

Reddit crypto community goes offline: Here’s why

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Numerous subcommunities on Reddit, including popular crypto subreddits, unanimously decided to go private for 48 hours as a way to protest the company’s new policies that prevent the use of third-party apps.

In April, Reddit Announced plans to modify the way users can interact with the Reddit Data API, a seven-year-old application that allowed developers to create tools and utilities for moderation and other activities.

Most subreddits retaliated against the move, as Reddit’s intention to create native moderator tools directly affects the community’s ability to create and use third-party tools, predominantly used to moderate content and interactions. As a result, the communities decided to go private or read-only between June 12 and 14, in protest of the upcoming change.

Subreddit r/Bitcoin has gone private. Source: Reddit

The list includes the major crypto communities, which have been instrumental for millions of investors from around the world to discuss various aspects of the ecosystem.

Subreddit r/CryptoCurrency participated in the Reddit blackout. Source: Reddit

Some of the popular subreddits dedicated to discussing Bitcoin (BTC) and cryptocurrencies protesting against the change include r/Bitcoin, r/CryptoCurrency/ and r/Cardano. Reddit also received backlash for introducing paid access to its data API.

A snippet showing upcoming changes shared by Reddit. Source: Reddit

While it was estimated that nearly 3,500 subreddits would become inaccessible, the number could rise if other communities join the revolt. On the other hand, Reddit CEO Steve Huffman endorsed the social media platform’s decision to reveal the need to be “a self-sufficient business.” He said:

“We respect when you and your communities take action to highlight the things you need, even sometimes going private.”

Additionally, to eradicate the extensive use of third-party moderator tools, Reddit plans to release mobile moderator tools for Reddit’s iOS and Android apps in the coming months.

Related: EU Watchdog Targets Crypto Ads on Instagram, YouTube, TikTok, Twitter

Contrary to ongoing community retaliation, Reddit is close to hitting a new milestone in terms of collectible avatar headlines on the platform.

Reddit managed to amass 10 million holders of his collectible avatars just a year after the launch of “Reddit NFT.”

Reddit collectible avatar banner. Source: Reddit

Reddit’s collectible avatar marketplace launched on the Ethereum Polygon scaling network in July 2022, allowing independent artists and Redditors to design customizable NFT collections.

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