Reddit r/CryptoCurrency community removes moderator accused of insider trading

The Reddit r/CryptoCurrency community has 6.9 million users. Minutes before Reddit announced its decision to end its "community points" program last Tuesday, the moderator who traded the native token MOON of the r/CryptoCurrency subreddit was removed from the community. r/CryptoCurrency posted on the The moderator sold 456,353 MOON, worth $92,000 at the time. Two minutes before the announcement, another 363,227 MOON entered the market, increasing the selling pressure. It is reported that relevant moderators were informed of Reddit's upcoming decision one hour in advance. The insider trading angered many in the investor community, with some calling for regulatory action against moderators while others questioned Reddit's decision to notify moderators in advance. The r/CryptoCurrency subreddit is currently discussing the future of MOON. Core contributor and MoonsDust founder u/mellon9 suggested: “We are brainstorming on the future of MOON and await Reddit’s decision on whether to transfer the contract to us or destroy the address.” (CoinDesk) 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.