The Reddit forum WallStreetBets (WSB), famous for orchestrating the GameStop (GME) short squeeze in early 2021, re-imposed a complete ban on cryptocurrency discussions less than 24 hours after lifting it. The reversal was triggered by a Bloomberg article headlined 'Wallstreetbets Bows to Crypto Wave, Allows Bitcoin Discussion,' which moderators viewed as misleading.
Short-Lived Opening: A Single Day for BTC, ETH, and DOGE
On April 14, 2021, WSB moderators announced they would allow limited discussion of Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) only within a dedicated daily crypto thread. They emphasized: 'We are not a crypto subreddit. We’re just trying to find a place for you guys within our subreddit.' The decision drew mixed reactions, with some users joking about the timing coinciding with Coinbase’s stock market listing.
Bloomberg’s Coverage Sparks Immediate Backlash
Mainstream media quickly picked up the story. Bloomberg’s article, along with other outlets, characterized the move as WallStreetBets bowing to the crypto tide. Moderators responded furiously: '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.' The ban reinstatement post was titled 'RIP WSB CRYPTO 4/14-2021 – 4/15-2021.'
WSB’s identity is deeply tied to stock trading and short squeezes—the community famously drove GameStop’s shares up nearly 2,000% in early 2021. The moderators’ swift reversal reflects a determination to preserve the forum’s core mission and resist being labeled as a crypto-hype follower. The incident highlights the ongoing tension between community focus and user demand for broader topics. As of now, any new crypto posts are deleted, and repeat offenders face bans.