Fb BANS ‘Robinhood inventory merchants group’ with 150ok+ members over ‘sexual exploitation’ amid GameStop craze – reviews

A preferred inventory buying and selling chat group has been booted off Fb because of alleged violations of its “sexual exploitation” guidelines, claims the web page’s founder, who accused “main establishments” of making an attempt to avenge the GameStop debacle.

The Robinhood Inventory Merchants group boasted greater than 157,000 members earlier than it was taken offline on Wednesday, its 23-year-old founder, Allen Tran, advised Reuters, including that the social media big cited its insurance policies surrounding “grownup sexual exploitation.” A notification of the ban seen by Reuters included no additional reasoning for what prompted the transfer.

The web page has no formal affiliation with the inventory buying and selling app of the identical identify.

Tran, nonetheless, maintains that he has by no means seen express or sexual content material on the web page, arguing as an alternative that the group was focused by “main establishments” after members racked up 1000’s of from trades first proposed in Reddit’s r/WallStreetBets group, which has pushed a dramatic value surge in sure closely shorted shares, specifically these of GameStop, AMC, BlackBerry and Nokia.

“The key establishments are trying to silence our group. We’re positively impacting individuals’s lives and they’re attacking our group as a result of we’re extra highly effective than them,” Tran wrote in a Fb put up after the group’s ban, arguing “there’s energy in plenty.”

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Tran, who additionally heads up his personal funding group, HaiKhuu Buying and selling, didn’t instantly reply to RT’s request for remark. Fb confirmed the ban to Reuters, however declined to supply extra element about its resolution.

The suspension comes after GameStop’s share value went on a runaway rally during the last month as novice buyers tried to punish Wall Avenue hedge funds which have wager on the retailer’s demise by way of quick promoting. The unprecedented positive aspects in worth have compelled some funds to cowl billions in losses and kicked off a significant bout of controversy. 

Earlier on Thursday, the Robinhood buying and selling app froze inventory purchases for GameStop and a number of other different corporations amid the value surge, calling it a “risk-management resolution.” The transfer has already triggered a category motion lawsuit from buyers, accusing the app of “manipulating the open market.”

READ MORE: Traders file CLASS ACTION SUIT in opposition to Robinhood over GameStop ‘stonk’ suppression

Whereas Tran has since based a brand new web page to exchange the unique, rapidly racking up 1000’s of members, he advised Reuters he’s involved that group, too, will probably be despatched down the reminiscence gap, saying Fb is “not a free platform.”

Some commenters within the alternative group have speculated that “bots” might have flagged phrases comparable to “acquire porn” – used amongst merchants to confer with quickly appreciating shares – suggesting that may clarify the suspension.

Wednesday’s ban shouldn’t be the primary hassle the Robinhood Inventory Merchants web page has encountered on Fb, briefly banned earlier this month on the grounds it was a “harmful group.” Whereas the group was revived after Tran reached out to the corporate, it’s unclear why it was slapped with such a label.

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