Why did discord ban R/wallstreetbets?

According to The Verge, Discord has banned the r/WallStreetBets server for allowing "hateful and discriminatory content after repeated warnings." It did not ban the server for financial fraud. We have also learned that Reddit's WallStreetBets subreddit has been set to private.

Why was wallstreetbets banned?

Discord says it did not ban the WallStreetBets server for financial fraud — rather, it was banned because it continued to allow “hateful and discriminatory content after repeated warnings.” The Verge gained access to the server and can confirm the claim that users of the channel were spamming hateful language, including racial slurs.

Why did the wallstreetbets subreddit go private?

On Reddit, the r/WallStreetBets subreddit briefly went private because it was experiencing “technical difficulties based on unprecedented scale as a result of newfound interest in WSB,” but returned nearly an hour later.

What happened to discord?

Discord was left in an awkward position yesterday, after the largely unmoderated server suddenly grew in size and got out of control. It could either let hate speech continue in a community it wouldn’t normally ban or act to shut it down after repeated warnings. The ban appears to have worked to get the r/WallStreetBets moderators to respond.