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r/Wallstreetbets re-bans crypto discussions following Bloomberg article

April 16, 2021. Summarized by summa-bot.

Compression ratio: 55.7%. 1 min read.

Trading subreddit r/Wallstreetbets reintroduced a crypto discussion ban in reaction to a Bloomberg article titled “WallStreetBets Bows to Crypto.”

Apparently r/Wallstreetbets doesn’t “bow to cryptocurrencies. ” 368 Total views 1 Total shares r/Wallstreetbets, or WSB, a subreddit famous for organizing a pump for Dogecoin (DOGE) and the GameStop short squeeze, is enacting a crypto discussion ban after officially allowing the topic for a single day. Subreddit moderator u/bawse1 announced Thursday that WSB has now banned crypto discussions forever, following a Bloomberg article titled, “WallStreetBets Bows to Crypto. ” Just a day before, the same moderator officially announced that the subreddit will finally allow crypto discussion strictly limited to Bitcoin (BTC), Ether (ETH), and DOGE.

The new post reads:“Due to the article that was written by Bloomberg who somehow felt that ‘WallStreetBets Bows to Crypto.

Please be respectful. ”A Thursday update to WSB rules reads that the subreddit will automatically remove content mentioning cryptocurrencies alongside nonfungible tokens.

The crypto market tends to consist of small accounts and pump & dumps,” the subreddit’s content guide notes. Founded back in 2012, WSB is a subreddit where participants discuss stock and option trading.

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