Overpopulated online forum, WallStreetbets, which is available on Reddit, has been seen going haywire and uncertain. First, it suspends the ban which it had imposed upon users in an effort to keep them away from entering into crypto-related discussions. But soon after the suspension of the ban, it once again imposed the ban due to an article piece which was published at Bloomberg.
An online public statement has been issued by the moderators and admins of a Reddit forum known as WallStreetbets. This is the same topic that became popular when the incident of GameStop had taken place. The forum reportedly prompted the discussion regarding GameStop’s stocks and alleged that they were trending on the global level. In the statement of 14th April 2021, it has been informed publicly that they have reversed their decision wherein ban was imposed upon crypto discussion ban.
The moderators told that the decision has been made in the best interest of the stocks’ market. However, discussions regarding only three cryptocurrencies were allowed such as Bitcoin, Ethereum, and the meme coin DOGE explained moderators.
When the ban was lifted, innumerable comments were received under the statement thread. Some of the Reddit users even made fun of the leading crypto trading platform, Coinbase, for going public and mocked WallStreetbets’ moderators.
Meanwhile, when the online media and news outlets learned about lifting the ban, they covered the story in news headlines. In addition, several articles and columns were written and published in these news outlets wherein the prominent coverage was given by Bloomberg.
Bloomberg’s coverage covered the news by suggesting that finally, the WallStreetbets forum has laid down weapons against the new norm i.e. crypto. But the news coverage did not appeal to Reddit, particularly the moderators of WallStreetbets and resultantly they were offended badly.
The next day i.e. 15th of April, 2021, one of the moderators informed that the ban has been reinstated. The moderator then posted a message which paid farewell to the crypto discussion.
Thereafter an official statement too was published which suggested that because of Bloomberg’s unwanted coverage, they were forced to reinstate the ban. The moderator told further that this time the ban is for an indefinite period and could be permanent as well. In addition, the moderator criticized Bloomberg’s coverage to state that the opinion piece published by Bloomberg was disgraceful and dreadful.
With regard to the reinstatement of the ban, Bloomberg commented that Reddit is living in the dark ages. It said that Bloomberg and WallStreetbets are members of a society which guarantees freedom of speech. Bloomberg further pointed out that there are several topics at Reddit which are in fact disrespectful to the majority. However, such topics are still available and duly discussed by Reddit members without considering that they might be hurting the feelings of the majority.