The founder of the insanely popular subreddit WallStreetBets is suing Reddit in federal court for booting him as moderator of the community. Jaime Rogozinski created the subreddit in 2012. It now has 13.6 million members—or “degenerates” as it calls them—and has disrupted financial markets. Rogozinski told The Wall Street Journal he “felt betrayed” by his ouster. But Reddit said he was banned because he tried to leverage the community into personal side hustles. “This lawsuit is another transparent attempt to enrich himself,” a spokeswoman said.
