Reddit has shut down the r/wallstreetbets subreddit.

The WallStreetBet server was banned by Discord for violating its community guidelines.

The WallStreetBet server was banned by Discord for violating its community guidelines.WallStreetBets or WSB is an online community on the social media website Reddit that discusses stocks and trading options. r/WallStreetBets describes itself as “like 4chan found a Bloomberg Terminal." Many comments posted by the users are found offensive.

On Jan. 27, Discord, the chat app platform, shut down the WallStreetBets server and cited hateful and discriminatory content for the action taken. It clarified that the ban was not related to GameStop stock’s recent price surge. Recently, a group of traders on WallStreetBets pushed Gamestop, AMC, and other companies' stock to a high as hedge funds were counting to short those stocks.

Discord issued a clarification saying that they decided to remove the WallStreetBets server and its owner for continuing to allow hateful and discriminatory content after repeated warnings. Soon after that, the moderators of Reddit’s WallStreetBets appeared to have set the forum to a private mode. However, it was back and working within about an hour. When it returned, the moderators had a message alleging that Discord destroyed their community instead of fixing the issue.