Discord Bans the r/WallStreetBets Server As Subreddit Goes Private

According to The Verge, Discord has banned the r/WallStreetBets server for allowing 'hateful and discriminatory content after repeated warnings.' It did not ban the server for financial fraud. We have also learned that Reddit's WallStreetBets subreddit has been set to private. 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. UPDATE: Reddit says the subreddit's moderators were the ones to make it private. According to The Verge's Dieter Bohn, the mods now say that '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. WSB will be back.'
Stories to help you get caught up:
Former SEC Chairman Calls For an Agency Investigation Into Online Stock Trading Platforms
AMC Spikes 260% as Day Traders Ignite Shorted Stocks like GameStop, BlackBerry, and Bed Bath & Beyond
GameStop Jumps After Hours As Elon Musk Tweets Out Reddit Board That's Hyping Stock
GameStop Stock Jumps To New Record
Gaming the System: How GameStop Stock Surged 1,500% In Nine Months

Read more of this story at Slashdot.