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Sector Update: Tech
Reddit (RDDT.US) may adopt iris technology for user identification.
According to a report by Semafor on Friday, Reddit (RDDT.US) is in negotiations with Tools for Humanity, the company behind Sam Altman's World ID, which may use its iris scanning equipment, Orb, to verify users on the platform. The report indicates that the Trade would allow Reddit to verify identities while maintaining user anonymity.
Reddit in Talks to Use Sam Altman's World ID for User Verification - Semafor
Market Chatter: Reddit Mulls Implementing World ID Verification System for Users
'Reddit in Talks to Embrace Sam Altman's Iris-scanning Orb'- Semafor
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Reddit investors have filed a lawsuit regarding the impact of Google search and AI traffic.
Glory Exchange, June 19 | A proposed class action lawsuit filed on June 18 claims that Reddit misled investors regarding the impact of changes in Google's search algorithm and artificial intelligence (AI) summaries. According to a lawsuit filed by investors in the U.S. District Court for the Northern District of California, on May 21, an Analyst downgraded Reddit's stock rating due to concerns about permanent traffic disruptions, causing Reddit's stock price to fall by 9.3%. By the market close on June 18, Reddit had accumulated a rise of 30.72% over the past month.
Reddit(RDDT.US) 10% Shareholder Sells US$15.48 Million in Common Stock
$Reddit(RDDT.US)$ 10% Shareholder Huffman Steve Ladd sold 124.41K shares of common stock on Jun 16, 2025 at an average price of $124.45 for a total value of $15.48 million.Source: Announcement What