Fidelity has cut Reddit valuation to $5.5B from $10B (techcrunch.com)

Reddit and its communities are preparing for a life after the platform's API changes forced popular third-party apps to shut down.
Reddit protest by its community moderators has impacted user engagements, traffic and visits to its ad portal since its beginning on June 12.
"He added that he plans to make changes to moderator policies so users can vote them out. Currently, a higher-ranking moderator — or the company — can boot out moderators. Incidentally, a r/Apple moderator posted on Twitter (via 9to5Mac) that Reddit was threatening to remove moderators who are staging an indefinite...