Official Site

PJ Matlock

Trader, entrepreneur, and founder of the Atlas Trading community. The official record, in my own words.

2024

A federal judge dismissed the indictment before trial

Trials held. No evidence has been tested.

Convictions. The presumption of innocence stands.

2025

Fifth Circuit reversed only on narrow, procedural grounds

About

Who I Am

I built one of the largest retail trading communities on Discord from the ground up.

Day Trader

I trade my own money and share my own views. I'm not an investment adviser, I don't manage anyone else's money, and nothing I post is financial or trading advice.

Community Builder

Atlas Trading grew into one of the largest retail trading communities on Discord, built around open discussion among independent traders. No hand-holding, no managed accounts.

Entrepreneur

Building products and businesses. I think for myself, take risks, and back it up with action.

My Story

The Short Version

Early Days

A Trader First

I started day trading U.S. stocks with my own account. My own money, my own risk, my own decisions. That has never changed.

Atlas Trading

Building the Community

I founded Atlas Trading and built it from the ground up into one of the largest retail trading communities on Discord: open discussion among independent traders, no hand-holding, no managed accounts.

Entrepreneurship

Trading Led to Building

Products, businesses, and tools I wanted to exist. I think for myself, take risks, and back it up with action.

Today

Still Here

I trade, I build, and I am fighting the government's case against me in court. The full story, in my own words, is on the Case Status page.

Case Update - July 2026

The Government's Case Has Fundamental Problems

In 2022, the DOJ brought charges. In 2024, a federal judge threw them out. The government appealed, and the Fifth Circuit sent the case back on narrow procedural grounds. No trial has occurred. No evidence has been tested. No jury has heard a single fact. The government still has to prove its entire case, and the core legal issues that led to dismissal in the first place have not gone away.

Read Full Case Status

Already Dismissed Once

A federal judge reviewed the government's indictment, found it legally deficient, and dismissed it before trial in March 2024.

No Trial, No Evidence Tested

The Fifth Circuit reversal was procedural. Zero witnesses have testified. Zero exhibits have been admitted. The presumption of innocence stands.

Materiality Is the Real Battleground

The Fifth Circuit resolved one narrow element. It did not address whether any statement was actually false, material, or made with intent to defraud. Those are the questions that decide this case.

This Affects Everyone

If the government's theory holds, any retail trader who posts a bullish take and later sells could face a federal indictment. The line between fraud and free speech matters.

In the Press

Coverage of the 2024 Dismissal

Third-party reporting, quoted as published. Full sources and court documents are on the Case Status page.

“Securities Fraud Charges Dropped Against Social Influencers…”

March 2024 dismissal coverage

variety.com

“$114M Discord Stock Case Tossed Ahead Of Jury Trial”

March 2024 dismissal coverage

Law360 (PDF via fordobrien.com)

“Discord Stock Case Dismissal”

Legal analysis of the dismissal

dynamisllp.com

I maintain my innocence and I will fight this in court. The government's theory turns ordinary market speech into a federal crime. That should concern every person who participates in public markets, posts about stocks online, or believes that sharing an opinion is not a felony. The facts and the law are on my side, and when this case is fully litigated, I believe that will be clear.

PJ Matlock / Founder, Atlas Trading

Partner

Funded Futures Trading

I partner with Halcyon Trader Funding, a U.S. futures prop firm (evaluations and funded accounts on CME, COMEX, NYMEX, and CBOT). Get 30% off with code GO.

Halcyon: 30% off with code GO

I'm an affiliate with Halcyon Trader Funding. Futures trading involves substantial risk. Trade at your own risk. Not financial advice.