Update (9:30 PM Pacific Time): Shortly after the ban, a new Wall Street Bets server appeared on Discord. Text chat privileges were limited to a few accounts for a few hours, but are now starting to open up, mostly to people spamming Nokia and AMC stock symbols and telling spammers to shut up.

Original Article Wall Street Vets, a community of mostly investor memes organized on Reddit, is in the midst of pressuring Wall Street speculators by buying up GameStop shares as recently as 1999. Some of the subreddit subscribers were also chatting on Discord, but the chat room host shut down the group's servers earlier today, saying that the reason for the closure, according to Discord, was "hate speech, glorification of violence, and spreading misinformation."

According to The Verge, Wall Street Bets' Discord server was still active when it joined and found users "spamming hateful language, including racism." In a statement sent to the magazine, Discord said:

This server has long been brought to the attention of our Trust & Safety team due to occasional content that violates our community guidelines, including hate speech, glorification of violence, and spreading misinformation We have been aware of this for some time. Over the past several months, we have issued multiple warnings to our server administrators.

Today, we have decided to remove this server and its administrator from Discord for continuing to allow hateful and discriminatory content despite repeated warnings.

To be clear, we did not ban this server because of financial fraud related to GameStop or any other brand; Discord is a place where a wide variety of personal finance, from investment clubs and day traders to college students and professional financial advisors We welcome discussion. We are monitoring this situation and will cooperate with authorities as appropriate in the event of any alleged illegal activity.

Because the ban was timed at the height of the group's popularity with "screw you" Wall Street, some observers have suspected that the private chat company was pressured by someone to suspend its investment activities (or decided to do so of its own volition). (or decided to do so of their own volition) to suspend their investment activities. So far, there is no evidence of such pressure.

The move is in line with Discord's moderation policy, and a more prosaic explanation is that the company was motivated by the use of the defamation observed by The Verge.

A few years ago, Discord was criticized in multiple reports when hate groups were found to be organized on the platform." During one afternoon, I found and joined more than 20 communities on the platform that spoke directly about Nazism and white supremacy and took pleasure in sharing anti-Semitic and racist memes and images," Slate wrote in 2018. "Discord has shut down these servers and has made it clear that it will continue to shut down servers reported for similar behavior.

I spoke with Discord about this topic in 2019, and while the company's Trust and Safety team does not actively monitor all small and private servers (virtually impossible on a platform of this size), it has been reported that hate speech and other TOS violations, especially from large public servers.

On the Wall Street Bets subreddit, which was temporarily locked and then unlocked this afternoon, users often refer to themselves in derogatory terms.

As for what this means in the first place, Andy summarized the current state of GameStop stock earlier today.