WallStreetBets, the Reddit message board responsible for fueling a massive short squeeze in the video game retailer GameStop Corp. (NYSE: GME) and other highly shorted stocks, is getting ample support on social media after it briefly went invite-only Wednesday. The discussion board was also removed from Discord’s servers the same day.

In a statement obtained by the Verge, a Discord spokesperson said it “did not ban this server due to financial fraud related to GameStop (up more than 8,300% year-over-year) or other stocks.” The group was instead banned because it kept allowing “hate speech, glorifying violence, and spreading misinformation” after “multiple warnings” to the server over the past few months, the spokesperson said.

The Reddit page r/WallStreetBets could not load for some users briefly around 9:30 a.m. ET on January 27. R/WallStreetBets had encouraged investors to bid on GameStop stock. The latest tweets from @wallstreetbets. Hey everyone, I am the guy who built senatestockwatcher.com - which has been really helpful for a few people and just general public knowledge overall. Well, I finally built a tool to do the same tracking and analysis for the US House of Representatives. Housestockwatcher.com The reason this took so long is that the House exclusively files their disclosures in PDF that vary wildly in quality.

Although r/WallStreetBets, which has more than 3.5 million members on Reddit, was taken off of Discord’s service, the subreddit now links to what appears to be a new official server.

The unfair actions seem to have helped fuel a chain reaction from a number of celebrities, politicians, investors, and execs who rallied to r/WallStreetBets’ defense. Here is what they are saying:

In a video posted on Twitter Wednesday, Barstool’s Dave Portnoy predicted that Thursday “will be intergalactic” for AMC Entertainment Holdings Inc (AMC), GameStop, and Nokia (NOK).

Emergency Press Conference – The Suits Shut Down @wallstreetbets@WSBChairman My prediction is tomorrow will be intergalactic for $amc$gme$nok

(Im not a financial adviser. Don’t listen to me) pic.twitter.com/oYrsPOz8Vx

— Dave Portnoy (@stoolpresidente) January 28, 2021

Billionaire entrepreneur Mark Cuban said he believes the Reddit message board — which is fair to say has briefly freaked out many on Wall Street — benefits “the little guy” competing against big financial firms. The investor noted that even his 11-year old made money trading with r/WallStreetBets.

I got to say I LOVE LOVE what is going on with #wallstreetbets. All of those years of High Frequency Traders front running retail traders,now speed and density of information and retail trading is giving the little guy an edge. Even my 11 yr old traded w them and made $

— Mark Cuban (@mcuban) January 28, 2021

Elon Musk also expressed disappointment with Discord’s decision.

“Even Discord has gone corpo..,” the Tesla CEO tweeted.

Earlier, Musk had tweeted in support of the community pushing GameStop’s shares (up $121 points, or 34.91%, at $468.84 pre-market) higher.

Walstreetbets Twitter

Gamestonk!! https://t.co/RZtkDzAewJ

— Elon Musk (@elonmusk) January 26, 2021

The Reddit board also received the support of Rep. Alexandria Ocasio-Cortez (D-NY 14th District).

Gotta admit it’s really something to see Wall Streeters with a long history of treating our economy as a casino complain about a message board of posters also treating the market as a casino

— Alexandria Ocasio-Cortez (@AOC) January 27, 2021

In an interview with CNBC’s “Fast Money”, billionaire tech investor and SPAC King Chamath Palihapitiya strongly defended retail traders’ right to sway stocks like pros.

“Instead of having ‘idea dinners’ or quiet whispered conversations amongst hedge funds in the Hamptons these kids have the courage to do it transparently in a forum,” said Palihapitiya.

“What it proves is this retail [investor] phenomenon is here to stay. There are 2.7 million people inside wallstreetbets. I think they are as important as any hedge or collection of hedge funds.”

Palihapitiya also said that despite Wall Street’s endless supply of resources, data, and technology the best research on stocks done by retail investors inside wallstreetbets is nearly indistinguishable from the best firms on Wall Street.

“That edge is gone. Now all of a sudden, retail can be on the same footing and they don’t have to be the ‘bag holder’ to Wall Street.”

British Virgin Islands, April 19, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire) - BSCstarter (https://www.bscstarter.finance), the first community-focused fundraising platform, today announced the launch of $WSB token through an exclusive partnership with WallStreetBets DApp (https://wsbdapp.com), a decentralized application of the popular subreddit /r/wallstreetbets. The WallstreetBets DApp is a creation of WallStreetBets (https://twitter.com/wallstreetbets), an establishment behind the global movement against the current financial system, financial institutions, and Wall Street. Inspired by their aligning visions of a financial democracy, BSCstarter and WallStreetBets DApp will launch the official $WSB token through an Initial Dex Offering (IDO) on BSCstarter’s launchpad.

Wallstreetbets Chairman Twitter

In the past few decades, there have been countless financial institutions and elites that have benefited from market manipulation and service fees that leave average investors feeling exploited and excluded within their own financial systems. As an antithesis of centralized finance, WallStreetBets and BSCstarter are bringing major changes to finance as they lead the industry with products and services that reflect their core values by giving the power over to the community members.

Reddit Stock Forum

BSCstarter is the first and the only truly decentralized fundraising platform that allows the community to vote prior to approving a project seeking to raise funds through their platform. Projects simply apply to be considered by the community members. The number of votes from the community decides whether a project is eligible, or not, to raise funds through an IDO on BSCstarter. From vote to launch, every step of the process is an automated feature of the platform that relies on the action of each community member.

Gamestop Wallstreetbets Twitter

“We are very excited to support the initiatives of WallStreetBets and $WSB because of our shared values,” said Lionel Iruk, Special Counsel at BSCstarter. “We believe everyone should have the opportunity to benefit from our financial products and services while becoming better investors through learning how to do their own research and having a voice in the community.”

The WSB DApp, a decentralized application powered by WallStreetBets, is at the heart of the $WSB ecosystem that will reallocate the special privileges of closed-door institutions to the individuals in the community. The WSB DApp provides financial instruments on the blockchain that resemble index funds, which can provide portfolio diversification at low costs with strong long-term returns.

The public IDO launched by the exclusive partnership between BSCstarter and WallStreetBets will go live on Tuesday, April 20, 2021, at 10 AM EST.

For information about how to participate in the BSCstarter and WallStreetBets IDO, please view BSCstarter’s Medium post “Guide: How to get involved in the upcoming Wall Street Bets IDO” and join the official WallStreetBets Telegram Group (https://t.me/wallstreetbets).

Wallstreetbets Twitter Mod

About BSCstarter
BSCstarter (https://www.bscstarter.finance) is the first community-driven launchpad for Binance Smart Chain (BSC), providing projects access to funding opportunities without the hassle of bureaucratic hurdles, complex KYC requirements and a manual selection process. BSCstarter’s solution allows the community to determine which projects to list using collective due diligence and DYOR skills. BSCstarter provides a decentralized fundraising platform as it was intended to be: community-driven, open and free with equal opportunity for all, ultimately empowering investors to filter through the messy landscape where rug pulls overshadow the potential of BSC’s growing ecosystem.

Wsb

About WallStreetBets DApp
WSB DApp (https://wsbdapp.com) is a decentralized application created by the global phenomenon r/WallStreetBets original co-founder and one of its moderators to solve the problems associated with fees and market manipulation that have solely benefited centralized financial institutions for the past 100 years.