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Reddit r/CryptoCurrency community removes moderator accused of insider trading

Reddit r/CryptoCurrency community, which has 6.9 million users, announced on Tuesday that it had decided to end its "community points" program. Minutes before the announcement, the community fired the moderator of the r/CryptoCurrency sub-forum's native token MOON. r/CryptoCurrency posted on the X platform: "All moderators who sold MOON before the announcement have been removed from the team." It is reported that the relevant moderators were informed one hour in advance of Reddit's decision. Insider trading has angered many investors, with some calling for regulatory action against the moderators, while others have questioned Reddit's decision to notify the moderators in advance. (CoinDesk) Previously, Reddit announced that it would shut down its blockchain-based community points program on November 8. Reddit said that although the program presented some opportunities, the resources required to invest were too great to continue. In addition, changes in the regulatory environment have exacerbated this dilemma. The team has launched or is actively developing some easier-to-adopt products.

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