One of the top crypto asset media sites, CCN is shutting down today on the 10th of June ‘19, according to an announcement on their official website.
The post which is written by Jonas Borchgrevink, the director and founder of CCN Markets and Hawkfish AS, says that the reason behind the closure of the firm is a large drop off in traffic from Google searches following a June 3 Google Core Update. The crypto news site’s traffic fell over 71% on mobile overnight. The founder said that the traffic levels were low in the past, the addition of a few new members to the team means that they cannot continue to operate in these conditions on advertiser revenue.
Borchgrevink says that they will be moving the CNN team to HVY.com which is a good news platform for journalists. In the post, Borchgrevink also said that not only crypto sites are affected by the Google update, adding that specifically British tabloid The Daily Mail has seen a large drop in immensity as well. Someone online has speculated that “clickbait” headlines are behind the loss of visibility for The Daily Mail, which lost half of its organic website traffic. However, the announcement says that the reason behind certain sites losing visibility is not able to be determined, “Unless someone – anyone – who actually worked on the June 2019 Core Update at Google explains what is going on, all we can do is to ‘guess, speculate, and experiment’ as far as our bank accounts allow us to.”
CNN was founded six years ago. It originally had the name CryptoCoinNews before it was rebranded. Borchgrevink wrote, “If Google thinks that CCN, all of a sudden — remember, literally overnight —, is bad, then why not give us the chance to understand the why and give us a way to change before any major update. Instead, we are kicked in the teeth overnight with zero knowledge of what we have done wrong, impacting a team of 60+ people. 6 years of work is evaporated.”
The post of CCN ends with a list of demands from Google which include providing three month’s notice of expected changes from Google Core Updates, explaining what a firm can do to change if it falls into a risk zone for losing traffic and having governments to create political task forces to check search engine updates for “ the conservation of our democracies, our Freedom of Speech, our Freedom of the Press, and our Freedom of Information.”