Reddit buys the site that's been running their semiannual Secret Santa exchange
blog.reddit.com
blog.reddit.com
By reddit taking over, and dedicating full-time attention to it, they can take steps to combat a lot of the fraud and general lameness and keep the experience awesome for everyone.
I know a few great redditors who were drawn in through the gift exchange. I've done it now twice, and will do it again, although I got shafted my 2nd time.
Will this stop me from participating again? Nope, not at all, I have been very happy with the gifts I have received so far, and I have been even happier with what I have sent so far, and if people don't want to be in the Christmas spirit, well then thats a shame, but that doesn't mean everyone is the same way.