Re-Installation of Ban on Cryptocurrency Discussions by WallStreetBets 
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Re-Installation of Ban on Cryptocurrency Discussions by WallStreetBets 

April 17, 2021      Deepshikha Gupta

Moderators of the famous Reddit forum WallStreetBets or WSB have revoked the earlier ban on cryptocurrency discussions, stated on Monday, commenting about the reasons behind the decision. 

Known for putting GameStop (GME) stock prices on the map, the lifted ban is about the discussions associated with Bitcoin, Ethereum, and Dogecoin. 

WallStreetBets Permitted Cryptocurrency Discussions for One Day

In the announcement made on April 14, 2021, WallStreetbets moderators cite that its main focus is on the stock market. They continued to elaborate on the matter as;

“After much deliberation, we’ve decided to allow for discussion about only BTC, ETH, and DOGE only inside of a daily Crypto discussion thread as to not burden everyone with crypto spam. All rules will still apply outside of the thread but for now please keep it in the daily thread only as we gauge if this is right for our sub. Just to be clear, we are not a crypto subreddit. We’re just trying to find a place for you guys within our subreddit.”

It is observed that the thread starts flooding with the comments once the decision of allowing Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) discussions by WallStreetBets. Users even make jokes about the recent Coinbase listing in the stock market stating “Ah, someone must have bought a position into COIN. Great timing mods.” 

Media Coverage Aids in Reversing the Crypto Ban Lift

The mainstream media echoed that the announcement headlined “Wallstreetbets Bows to Crypto Wave, Allows Bitcoin Discussion.”

A moderator commented in the thread, “RIP WSB CRYPTO 4/14-2021 – 4/15-2021”:

“Due to the article that was written @bloomberg who somehow felt that ‘Wallstreetbets Bows to Crypto.’ Crypto discussion is banned indefinitely. I’ve read a lot of dumb articles written about WSB. This one takes the cake. P.S. Like always. Please be respectful.”

The WSB members made the headlines in the first quarter of the year. According to Short Squeeze, the prices pumped approximately 2,000% of the video game retailer, Gamestop’s stock.

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Deepshikha Gupta
Deepshikha Gupta

A student from a technical background, Deepshikha found Bitcoin in 2020 and has been an evangelist ever since. A B.Tech turned into a full-time crypto-writer, she tries to bridge the gap that currently exists between the crypto world and people from non-technical backgrounds, through her simplistic yet effective form of writing. She finds that her writing for cryptocurrencies can redefine the way the audience interacts with the crypto space.