Wallstreetbets Reinstates Ban on Cryptocurrency Discussions, Citing Bloomberg Coverage

Wallstreetbets Reinstates Ban on Cryptocurrency Discussions, Citing Bloomberg Coverage

Wallstreetbets Reinstates Ban on Cryptocurrency Discussions, Citing Bloomberg Coverage

The moderators of the popular Reddit forum Wallstreetbets, known for putting the Gamestop (GME) stock price on the map as a global trending topic, have lifted the ban on any discussion related to bitcoin, ethereum and dogecoin. However, according to a recent Bloomberg article, that decision has been reversed.

Bitcoin, Ethereum, Dogcoin were challenged in one day

The 14th. In April 2021, the moderators of Wallstreetbets released a statement explaining why they banned discussions of cryptocurrencies in their threads, explaining that their main focus is the stock market. They then clarified the issue:

After careful consideration, we have decided to only allow BTC, ETH and DOGE discussions in the daily crypto-currency thread, so as not to overwhelm everyone with crypto spam. All rules will still apply outside of the thread, but for now only do this in the daily thread to determine if it fits our theme. To be clear, we are not crypto subreddits. We’re just trying to find you a place in our sublet.

Wallstreetbets’ decision to allow discussions on Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE) has sparked much commentary on the subject of the statement.

Some users have even joked about Coinbase’s recent IPO. Ah, it looks like someone bought a position in COIN. Good timing, said one Reddit user.

Bloomberg’s report rescinded the ban on.

Following this decision, the mainstream media picked up on the announcement, such as Bloomberg, which wrote an article titled Wallstreetbets Bows to Crypto Wave, Allows Bitcoin Discussion.

Such an article, as well as others that have appeared in the press, did not sit well with Wallstreetbets, which reinstated the ban on Thursday.

Moderator comments in the WSB CRYPTO 4/14-2021 – 4/15-2021 RIP thread:

Thanks to an article by @bloomberg who thought Wallstreetbets Bows to Crypto. Discussion of cryptography is prohibited indefinitely. I’ve read a lot of stupid articles about WSB. That’s the icing on the cake. P.S.: As always. Be polite.

Members of Wallstreetbets made headlines in early 2021 for driving up Gamestop shares by nearly 2,000% through a short sale.

What do you think of Wallstreetbets’ decision? Let us know your comments in the section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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