Kraken: Reddit should provide a redemption path for community points

Kraken co-founder and chairman of the board Jesse Powell criticized Reddit for providing a “redemption path” for its terminated crypto community points. Powell said that he does not agree with the regulatory issues mentioned by Reddit, and he believes that Reddit's closure of this project may harm the rights and interests of point holders. Reddit's decision does not affect its collection of avatars (the Polygon NFT series), with more than 21 million avatar collections released by Reddit since its launch in July 2022. (Decrypt) Previously, Reddit will shut down its blockchain-based community points program on November 8. Reddit said that while there were some opportunities with the plan, the resources required would be too great to be sustainable. Additionally, changes in the regulatory environment have exacerbated this dilemma. The team has launched or is actively developing a number of products that will make adoption easier.