The Crypto Reddit Community Is Going Offline: Here’s Why

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Many subcommunities on Reddit, including popular crypto subreddits, have unanimously decided to go private for 48 hours to protest new company policies that prevent the use of third-party apps.

In April, Reddit announced plans to change how users can interact with the Reddit Data API, a seven-year-old app that allowed developers to build tools and utilities for moderation and other activities.

Most subreddits have fought back because Reddit’s intention to create native moderation tools has a direct impact on communities’ ability to create and use third-party tools primarily used to moderate content and interactions. As a result, communities decided to switch to private or read-only mode between June 12 and June 14, protesting the upcoming change.

Subreddit r/Bitcoin has gone private. Source: Reddit

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

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

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

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

While it is estimated that nearly 3,500 sub-reddits are becoming inaccessible, their numbers could increase if other communities join the revolt. On the other hand, Reddit CEO Steve Huffman backed the social media platforms’ decision by revealing the need to be a standalone business. He said:

We respect when you and your communities take steps to highlight the things you need, including, at times, privacy.

Additionally, to eradicate the heavy use of third-party moderation tools, Reddit plans to launch mobile moderation tools for Reddits iOS and Android apps in the coming months.

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

Unlike the ongoing community retaliations, Reddit is about to hit another milestone in terms of collectible avatar holders on the platform.

Reddit managed to amass 10 million holders of its collectible avatars just one year after the launch of Reddit NFTs.

Reddit’s collectible avatar banner. Source: Reddit

The Reddits Collectible Avatar Marketplace launched on the Ethereum scaling network Polygon in July 2022, allowing independent artists and Redditors to design customizable NFT collections.

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