According to reports, the Discord for r/WallStreetBets, the subreddit behind GameStop’s record-shattering stock price surge, has been banned. As GameStop’s doubled to over $300 USD a share, Discord decided to shutdown WallStreetBets’ server due to “hateful” content. Discord issued an official statement regarding the ban, highlighting a breach of its Community Guidelines.
“The server has been on our Trust & Safety team’s radar for some time due to occasional content that violates our Community Guidelines, including hate speech, glorifying violence, and spreading misinformation. Over the past few months, we have issued multiple warnings to the server admin.
Today, we decided to remove the server and its owner from Discord for continuing to allow hateful and discriminatory content after repeated warnings.
To be clear, we did not ban this server due to financial fraud related to GameStop or other stocks. Discord welcomes a broad variety of personal finance discussions, from investment clubs and day traders to college students and professional financial advisors. We are monitoring this situation and in the event there are allegations of illegal activities, we will cooperate with authorities as appropriate.”
Shortly after the r/WallStreetBets subreddit was taken offline to the public before GameStop’s stock dropped almost $100 USD. The subreddit then went back open to public noting “technical difficulties based on an unprecedented scale as a result of the newfound interest in WSB.” Admins issued an official statement regarding r/WallStreetBets staggering growth amidst all the financial news as of late, taking issue with the Discord ban, people looking to profit off the subreddit’s name and a Twitter account called “wsbmod” to deliver official notices.
“We’re suffering from success and our Discord was the first casualty. You know as well as I do that if you gather 250k people in one spot someone is going to say something that makes you look bad. That room was golden and the people that run it are awesome. We blocked all bad words with a bot, which should be enough, but apparently if someone can say a bad word with weird unicode icelandic characters and someone can screenshot it you don’t get to hang out with your friends anymore. Discord did us dirty and I am not impressed with them destroying our community instead of stepping in with the wrench we may have needed to fix things, especially after we got over 1,000 server boosts. That is pretty unethical.”
Head over to the r/WallStreetBets subreddit to read the statement in full.