Crypto social media censorship is a challenge businesses in the crypto industry have to face, especially in a time where online visibility, presence and reach are important to the survival of these businesses. Turned away by major platforms such as Facebook and YouTube, the crypto community has moved to Twitter, LinkedIn and forums to share information and news. Twitter in particular has been a safe haven for crypto enthusiasts, while Twitter CEO Jack Dorsey is a well-known supporter of Bitcoin. Yet, in recent weeks, complaints of Twitter ‘shadow-banning’ Bitcoin and crypto-related accounts and personalities on the platform have emerged.
According to Forbes, accounts belonging to crypto content websites, developers, research teams and even venture capital funds have been affected, seeing less impressions, reach and engagement. If this continues, some of these individuals and businesses may have to start looking at alternatives. Nic Carter from Castle Island Ventures, for one, remarked that the decline in audience reach is severe enough to push him to utilize other platforms, such as LinkedIn.
While no official statement has been made by Twitter as yet and it is unclear whether this sudden change on Twitter is a result of a new algorithm or if the social media giant is considering cracking down on crypto-related accounts, the shadow ban comes at an inopportune time, less than two weeks away from the crypto industry’s largest event of the year – the Bitcoin Halving event. Occuring in the midst of the COVID-19 pandemic and a global economic contraction, the ban also does not bode well for already struggling businesses that rely on their online presence, trying to keep afloat in the crisis.
Ripple sued video-sharing platform YouTube last month for allowing XRP-related scams to happen on the site despite its reputation for banning and removing crypto content and accounts. YouTube has been trying to restore the removed videos, but there is mounting uncertainty as multiple prominent social media platforms continue to clamp down on crypto content online.
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