“Days after the proposal of billionaire venture capitalist Fred Wilson to create a decentralized social media platform, Ryan X. Charles, ex-Reddit cryptocurrency engineer, has announced in a blog post that he wants to collaborate with others to create a decentralized Reddit. Charles and the Reddit development team planned to get rid of third-party services and institutions like banks and payment processors by integrating bitcoin as the only payment option for the platform. However, after taking US$50 million in funding, Reddit replaced their management, and Yishan resigned ‘due to exhaustion.’ Reddit shelved Charles’ project and fired him soon after.”
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