Reddit’s Crypto Token Skyrockets 45% After Wall Street Whale Dives In

Reddit’s community points—the platform’s oft-mocked ’play money’—just got a serious credibility boost. A regulatory filing reveals a major investment firm quietly accumulated a position, sending the token soaring.

Wall Street’s latest crypto play: betting on internet points that were originally designed to reward shitposting. How’s that for a thesis?

There’s also r/FortNiteBR, which rallied over the past week:

The rally also reflects broader market dynamics, as crypto assets have been buoyed by a mix of institutional interest, Optimism around blockchain-based social networks, and the social media company’s recent initial public offering.

Investors appear to view Community Points as a potential “sleeper asset” that could drive new engagement models in the evolving creator economy.