Facebook has banned a group called ‘Robinhood stock traders’ that had 157,000 members, with its founder suggesting the group had been targeted by “major institutions.”
The group has no formal affiliation with the stock trading app of the name same that froze stock purchases for GameStop yesterday, prompting widespread complaints from its users.
The group’s 23-year-old founder Alan Tran told Reuters that the social media giant removed the page citing “adult sexual exploitation,” but provided no further reasoning for the ban.
According to Tran, who also heads up his own investment group, HaiKhuu Trading, bots may have flagged the page because of the use of the term “gain porn,” which is a phrase relating to stock purchases and has no actual sexual connotation.
Earlier this month, the group was also listed as a “dangerous organization,” but this label was subsequently removed by Facebook and the page was restored.
“The major institutions are attempting to silence our community. We are positively impacting people’s lives and they are attacking our group because we are more powerful than them,” Tran wrote in a Facebook post, arguing “there is power in masses.”
Tran has now set up a replacement page, although he expects that to be deleted too, saying Facebook is “not a free platform.”
Earlier this week, a Discord server used by the WallStreetBets community, the Reddit forum responsible for the populist-driven surge in Gamestop stocks, was banned with Discord alleging that it had contained “hate speech.”
As we explain in the video below, Big Tech companies are abusing the “hate speech” label to shut down communications, with many asserting that this is merely an excuse to censor content harmful to hedge fund billionaires.