Discord Bans WallStreetBets For ‘Hateful’ Content

Discord Bans WallStreetBets For ‘Hateful’ Content
Image: Discord
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WallStreetBets, the subreddit behind engineering GameStop’s record-shattering stock price surge over the past week, has been banned from Discord for hate speech, The Verge reports.

GameStop’s stock doubled today, rising from the previous day’s record of over $US150 ($195) to a new peak of over $US300 ($390) a share, all because day traders on the WallStreetBets subreddit decided to try to stick it to the investment world’s big hedge funds. It’s become a big internet joke, but one with real world consequences, including Discord banning the subreddit’s server.

Update 11:10am AEST: The r/wallstreetbets subreddit has also been set to private, with a notice saying they were “experiencing technical difficulties based on unprecedented scale”. “We are unable to ensure Reddit’s content policy and the WSB rules are enforceable without a technology platform that can support automation of this enforcement,” the note says.

GameStop Stock Drama Continues As Price Soars And Hedge Fund Blinks

GameStop’s stock price continued to soar in after-hours trading last night to over $US300 ($390) ($US390 ($507)). While many are waiting for it to come crashing back down, it might be too late for some major hedge funds. With the stock still sitting at well over $US250 ($325) ($US325 ($423)) a share (unthinkable just...

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“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,” Discord told The Verge in a statement. “Over the past few months, we have issued multiple warnings to the server admin.”

The chat platform went on:

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.

In addition to upending the market for certain stocks, like AMC and Blackberry, WallStreetBets is, not surprisingly, also a bastion of internet edgelords. “Like 4chan found a Bloomberg Terminal,” reads the Reddit community’s description. Commenters there regularly use offensive terms to refer to each other, and also invoke homophobic slurs and other hate speech.

It’s unclear how much of this speech was also present on the subreddit’s Discord server, or for how long until the platform finally decided to act. The company did not immediately respond to a request for comment.

Comments

  • The timing of this is questionable to say the least. Repeated violations and warnings, but you only NOW ban them? Please.

    And the disclosure about not banning it ‘due to financial fraud’ is also fucking suspect in its wording… Because they don’t state ‘alledged’ or ‘potential’ in reference to such claims.

    They may as well have said “Their financial fraud isn’t why they were banned.”

    • They don’t have to state ‘alleged’ or ‘potential’ financial fraud because they explicitly note that this had nothing to do with the decision to ban the subreddit, despite some media commentary to the contrary.

      It’s pretty clear why the subreddit got banned. It was full of a bunch of edgelords who had received multiple warnings and the ban hammer had already due to come down almost any day.

      At best, the ban was bought forward a little because of all the outside attention that the subreddit was drawing to itself. Under the circumstances, the fact that the subreddit moved up a bit on the moderator’s priority lists as a result should come as no surprise to absolutely anybody.

      • They didn’t have to use ‘financial fraud’ when referring to this financial stock situation at all. Yet they absolutely did.

        Arguing that statement doesn’t imply anything is blatantly dishonest.

    • The lawyers have been out in force since the whole thing blew up, sounds like Discord was hit with a strongly worded warning and reacted the only way it could.
      The fact they claim it has nothing to do with fraud but then adds that it will work with law enforcement if required, speaks volumes.

      • To be fair if I had any links to them at all I’d be throwing them as far under the bus as possible. A lot of money is now very angry and has no idea whose head to put on a pike to make sure this never happens again.

  • I can imagine the hateful content:

    “Lulz. Lets buy shares! \^o^/”

    “Booyah! We got ’em!”

    “LOL. See the news? LMFAO.”

    And thus, they got banned.

  • The subreddit also went dark because they were being DDOSed by bots trying to get them banned for hate speech, much like what happened with the Discord. Wall Street is maaaaaad~

  • They are in trouble because they gamed the system and the people who normally game it will lose money. Well done I say.
    Rich people making phone calls made this happen.

  • Everyone and their dog can see that all this is done to try and stop the flood of investors who are making money when Wall Street and their masters said they aren’t allowed to. There’s been some big-time behind the scenes manipulation to get these people who gamed the system shut down.

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