Discord bans WallStreetBets for allowing hate speech

WallStreetBets, the coalition of investors that rose to prominence for upping shares from its perch on Reddit, has been banned by communications platform Discord for not doing enough to stem hate speech.

A representative for Discord said on Wednesday he had been monitoring the group for some time for violating their community guidelines and had issued several warnings to the administrator of the so-called server – essentially a digital room where people can congregate to chat. .

This decision was unrelated to WallStreetBets’ efforts to promote actions such as GameStop Corp., the rep said. It was to allow “hateful and discriminatory content after repeated warnings”. Discord’s guidelines prohibit hate speech, the glorification of violence, and the spread of disinformation.

“Discord hosts a wide variety of discussions on personal finance, from investment clubs and day traders to students and professional financial advisers,” the spokesperson said. “We are monitoring this situation and in the event of allegations of illegal activity, we will cooperate with the authorities as appropriate.”