Reddit partners with crypto exchange FTX to help users manage community points

Reddit now lets users purchase Ethereum cryptocurrency on the platform through an integration with FTX, the crypto exchange owned by billionaire Sam Bankman-Fried. In a press release, FTX announced that Reddit users can now use the firm’s payment system, FTX Pay, when managing their blockchain-based community points.

Reddit first rolled out community points in 2020 as a way to reward users for interacting with a community. These points exist on the Ethereum blockchain and are stored in the “Vault,” a user’s blockchain-based wallet that also holds the collectible NFT (non-fungible token) avatars that Reddit introduced last month.

Reddit displays a user’s community points next to their username as a measure of their reputation, but also...

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