Discord Bans r/WallStreetBets Over ‘Hate Speech,’ Reddit Forum Returns After Going Private

Discord Bans r/WallStreetBets Over ‘Hate Speech,’ Reddit Forum Returns After Going Private

Top line

The chat app Discord has blocked the r / WallStreetBets server for “hate speech”, while the Reddit message board on Wednesday was only opened by invitation for a short time.

A man wearing a face mask leaves Game Stop with the new PlayStation5 game console. Game stop only … [+] had 2 in stock for Black Friday.

Photo by Aimee Dilger / SOPA Images / LightRocket via Getty Images

Key factors

In a statement received from Verge, a Discord spokesman said “this server has not been banned due to financial fraud related to GameStop or other stocks”.

The group was instead banned for “hate speech, glorifying violence and spreading misinformation” after “multiple warnings” to the server in recent months, the spokesman said.

One moderator of the group admitted that “if you gather 250,000 people in one place, someone is going to say something that makes you look bad,” but added that “discord got us dirty and I am not impressed that they are our community destroy rather than kick in. We may have had to fix problems with the wrench, especially after receiving over 1,000 server boosts, which is pretty unethical. “

On Reddit, the r / WallStreetBets subreddit was briefly privatized as it had “technical difficulties due to unprecedented scale” due to the newfound interest in WSB but returned almost an hour later.

The subreddit moderators said it got private because they couldn’t keep up with an overwhelming number of comments and submissions.

Crucial quote

“This room was golden and the people who run it are great. We blocked all bad words with a bot, which should be enough, but apparently you can no longer hang out with your friends when someone can say a bad word with strange Icelandic Unicode characters and someone can take a screenshot of it, “one moderator wrote above the Discord server.

Big number

r / WallStreetBets has more than 3.5 million members on Reddit as of Wednesday.

Key background

Retailers, mostly on forums like Reddits r / WallStreetBets, raised prices on GameStop, AMC, and others this week after finding out that institutional Wall Street hedge funds cut them sharply. The excitement fueled by Reddit has propelled GameStop shares up 1640% in two weeks, bringing massive losses to investors like the hedge fund Melvin Capital who made money from the price decline.