Google and bitcoin have never gotten along. The cryptocurrency has always appeared dangerous to the world’s largest search engine, which previously banned cryptocurrency ads in early 2018, though that ban later came to an end before the year was out.
Google Still Hates Crypto
Now, the parent company of Google – known as Alphabet – has taken the liberty of targeting those who post videos and content related to cryptocurrencies on YouTube and is removing these videos without an explanation. Many crypto enthusiasts and content creators have sought word from YouTube, asking why the move is being made, but thus far, an explanation has not been given.
What’s worse is that the company appears to be targeting only small channels. Big news platforms like CNBC – which often report on the dealings of the crypto industry – have managed to escape detection and are still publishing videos related to digital money. Thus, it looks like all the “little guys” are getting hit from all sides.
One YouTube poster named Chris Dunn has more than 200,000 subscribers on his crypto channel. He recently reported that the company has removed all his videos, citing them as “harmful or dangerous content.” He also claims that YouTube says he’s promoting the “sale of regulated goods.”
Dunn says he’s been making videos for over ten years. He has managed to accumulate more than seven million views during his content creating tenure.
Other members of the YouTube community have also taken notice of the allegedly unfair treatment. Ran NeuNer – host of “Crypto Trader” on CNBC Africa – has taken to Twitter to express his dissatisfaction of YouTube targeting figures in the digital money arena:
YouTube deleting all crypto content is a massive blow to the industry. YouTube is the go-to place for educational videos and the first port of call for new people entering the ecosystem to learn the basics. As a community, we should challenge this formally.
It seems that bitcoin’s price has taken something of a hit since Google began its anti-crypto crackdown. The currency, which was originally trading for over $7,400 just a day or two ago, has fallen back down to $7,200, thereby losing more than $200 in a relatively short period.
No Word on Why This Is Happening
Mati Greenspan – head analyst at cryptocurrency exchange e-Toro – has commented:
So far, Alphabet has made no attempt to explain the reasons for the culling. The first instinct that many had was that perhaps they’re trying to protect the consumer from scams. However, this wouldn’t make much sense given that Google and Facebook have already had a crypto advertising ban last year that has long since been reversed, likely due to regulatory clarity in the United States where it was found that bitcoin and Ethereum are neither securities nor scams.