Yesterday, June 10th, classified among most influential crypto media outlets, CCN, announced its shut down.
The announcement was published by the founder of the website, Jonas Borchgrevink. He explained that the cause of the shut down was the Google Core Update, on June 3, after which the traffic of the website declined by over 71%.
This resulted in the daily revenue of the company decreasing up to 90% as all their profits depended on advertising on their site.
Although CCN has been in the same situation in the past, their team is now much larger and they don’t plan downsizing it.
Other famous sites like CoinDesk, Cointelegraph and U.today also experienced large losses in traffic. The Daily Mail, a widely known British news outlet, also lost over 50 percent of its organic traffic overnight. The Daily Mail was founded in 1896 in the UK.
There were also rumors that many websites were targeted by Google because of the conservative viewpoints of some journalists or outlets in view of the upcoming 2020 presidential election in the US.
Borchgrevink also makes a point that if people aren’t given the opportunity to express their ideas, then journalists should do a better job of protecting free speech.
At the end of the announcement, the founder of CCN claims that Google has the ability to control the narrative and while they claim to be for journalism, they aren’t creating a good environment for it. He also wrote a list of demands to Google including explanations to the targeted news outlets and so on.
Borchgrebink added that Google should be as transparent as it demands websites to be as it has the ability to dictate the behavior of these websites.
CCN was founded as CryptoCoinsNews in 2013 in Norway by Jonas Borchegrevink. In the website, various topics from crypto-asset to US politics to gaming are discussed on the platform.