[AFAIK]

Mods from thousands of communities, including many of the site's largest, have participated in a 2 day strike in protest of Reddit's plans to increase the fees it charges to access its API and gain access to the site's data. The price has been set so high that most 3rd party apps are planning to shut down when the new price becomes active. These apps are very popular with users and many have rallied behind their desire to continue to profit from cheap access to reddit's infrastructure and data whilst denying reddit the oppourtunity to serve adverts to their users. Some subreddits remained dark beyond the 2nd day and reddit is now making efforts to replace mods who continue the strike. Note that all reddit moderators are unpaid volunteers and therefore do not incur any financial penalty during shutdowns.

This is an interesting one to watch. I remember the wildcat strike that occurred many years ago when reddit fired a popular employee who worked in liaison with mods without warning but this one has much more planning and more specific grievances behind it. The changes will also impact many end users and not just those who moderate various areas of the site.

Current situation:
https://www.nbcnews.com/tech/tech-news/ ... -rcna89544

Overview and history:
https://www.eff.org/deeplinks/2023/06/w ... -got-wrong