WallStreetBets goes dark – TechCrunch

After a wild day for public markets run by Reddit traders, commanding stock and combating hedge fund short sellers, the community at r / wallstreetbets no longer has a home at Discord and its Reddit community for the time being Has been discontinued as an invitation-only subredit. Is going.

Update: 4:49 pm PT: R / wallstreetbets subreddit is back U / zjz with a post from the moderator Claiming that the group was “suffering from success,” and calling on Discord to ban its chat community, more help was needed from Reddit to deal with the new flow of attention, “Discord dirty us and I I am not affected by this. Destroying our community, “the moderator noted.

Discord announced this afternoon that they had banned the WalvetBacks Discord server after repeated warnings violated Hate Speech. Discord Server had been witnessing heavy traffic of new users for the past several days as traffic also increased on subreddits.

At the end of Reddit, it is not clear exactly what has happened. It does not appear that Reddit took direct action against the community, but instead that r / wallstreetbets moderators were overwhelmed by the influx of new users and took down the sub-group themselves. The site notes that only moderators and “accepted users” are currently allowed in the community. Many longtime subscribers have noted on social media that they are unable to reach a community that has boasted several million subscribers.

We have reached out to Reddit for further clarification.

In a statement to Techchurch today before the Walcritbats subredit went private, a company spokesman says, “Reddit’s site-wide policies prohibit posting or soliciting illegal content or facilitating illegal transactions. We will conduct and review legitimate law enforcement investigations or as needed. “

TechCrunch’s full statement from an obnoxious spokesperson:

The WallStreetBets 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. In the last few months, we have issued several warnings to the server administrator.

Today, we decided to remove the server and its owner from Discord to continue the hateful and discriminatory content following the warning.

To be clear, we did not ban this server due to financial fraud related to GameStop or other shares. Dissord welcomes a wide variety of personal finance discussions, from investment clubs and day traders to college students and professional financial advisors. We are monitoring this situation and there are allegations of illegal activities in this incident, we will cooperate with the authorities properly.