Why has YouTube flagged Bankless’s Crypto podcast but not scammy live streams?

Sahana Kiran
Source – Pixabay

From being disregarded to being sidelined, the crypto industry has endured it all. Despite this, the popularity of the market is on the rise. An array of mainstream platforms have witnessed the growth of the industry and have adopted several cryptocurrencies. Now, with most platforms onboarding these digital assets, one of them still seems to be skeptical.

YouTube is home to a wide range of video providers from a variety of industries. Crypto has a strong presence in this media. A slew of people go to the site to learn about cryptocurrency and hunt for price forecasts as well as community updates on the industry. Bankless, an Ethereum-centric podcast with over 150,000 subscribers, has been around for a while. YouTube, however, opted to kick Bankless out of the area.

Bankless took to Twitter and brought this to the community’s attention. In its tweet, the channel pointed out that YouTube hadn’t initiated a prior warning or revealed a reason for its latest move.

Hours after this occurred, YouTube went on to restore the channel and apologized for its mishap. The video streaming firm wrote,

“confirming @BanklessHQ channel is back up, we’re so sorry this happened. looking into the other channels you mentioned in your other tweet, thanks so much for bearing with us – DMing you w/ more”

Fake crypto live streams take the front stage on YouTube

Despite this affirmation, the community wasn’t pleased. Several began calling out YouTube for not taking down scammy live streams that feature Elon Musk, and Jack Dorsey among others. Time and again, Musk has involuntarily been the face of these scammy videos. However, YouTube doesn’t seem to be doing much, the community complained.

BleepingComputer pointed out that the scammers involved in these live streams pocketed a whopping $1.3 million. A recent report curated by McAfee read,

“The YouTube streams advertised several sites which shared a similar theme. They claim to send cryptocurrency worth double the value which they’ve received. For example, if you send 1BTC you will receive 2BTC in return.”

Meanwhile, several took to Twitter and urged Musk to purchase YouTube as well in order to combat these fraudsters.