Discord has banned the r/WallStreetBets server, the company confirmed to The Verge. Reddit’s WallStreetBets subreddit is the driver of an unprecedented rally of GameStop stock, and has received a great deal of attention in the press as the stock continues to soar.
Discord says it did not ban the server for financial fraud — rather, it was banned because it continued to allow “hateful and discriminatory content after repeated warnings.” The Verge gained access to the server and can confirm the claim that users of the channel were spamming hateful language, including racial slurs.
Here is Discord’s full statement:
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.
r/WallStreetBets describes itself as “like 4chan found a Bloomberg Terminal,” and many comments on the subreddit contain offensive language.
How r/WallStreetBets gamed the stock of GameStop
If you were able to get into the Discord, it was chaotic, with messages coming in at a rapid rate and many voices talking over each other simultaneously. Check out this video from my colleague Tom Warren to get an idea of what was like (note: you may want to turn down your volume before clicking play, as the voices are quite loud):
the main Discord call for wallstreetbets is true online chaos pic.twitter.com/cq8QOyHj6m
— Tom Warren (@tomwarren) January 27, 2021