Ben Armstrong, better known by his online as “BitBoy Crypto,” has amassed 1.44 million subscribers on YouTube. BitBoy’s videos feature a wide range of sensationalist material, including market comments, news, and interviews with other prominent or divisive figures in the industry.
Richard Heart, the creator of HEX, as well as John McAfee, Justin Sun of TRON, Charles Hoskinson of Cardano, and Naomi Brockwell of NBTV, have all been interviewed by Armstrong.
What Happened To BitBoy Crypto?
Hit Network, the parent company that owns the “BitBoy Crypto” brand, has severed connections with its public face, Ben Armstrong, claiming substance addiction and the resulting financial damage to employees as the reason.
After making efforts to help Armstrong “during his relapse into substance abuse,” the company announced its decision on YouTube and other media on August 28 and expressed remorse for the closure of business relations with Armstrong. They said Armstrong caused “emotional, physical, and financial damage” to them and others in the industry.
Yesterday, BJ Investment Holdings, the parent company of Hit network, took decisive legal action in removing Ben Armstrong from the company, and specifically the Bitboy Crypto brand. https://t.co/e0kYLKUZ4r
— Bitboy Crypto (@Bitboy_Crypto) August 28, 2023
The announcement did not specify what exactly happened between Armstrong and the company. Investors had claimed that Armstrong and other influencers pushed FTX without disclosing payments from the exchange, and a class action lawsuit had been filed against the crypto YouTuber.
During the course of the litigation, court documents revealed that Armstrong threatened attorneys for the plaintiffs and openly mocked the authority of a federal judge by not appearing in court as ordered. On June 16th, the case was halted.
The European Central Bank President Christine Lagarde and the United States Securities and Exchange Commission Chair Gary Gensler were two of the high-profile targets of Armstrong’s insults via his platform of over 1 million X (previously Twitter) followers and YouTube subscribers. He sued “Atozy,” or YouTuber Erling Mengshoel Jr., for defamation in August 2022, but they settled out of court when Mengshoel Jr. crowdsourced over $200,000 to pay for his legal representation.
You can also take a look at other venture posts we have covered:
- Nvidia’s Ascendance Continues: Shares Rise 0.5% Amid High Expectations
- Can the Fed Bring Inflation Under Control Without Causing a Recession?
Concerned about the future of the “BitBoy Crypto” brand without its most known face, many X and YouTube fans reacted positively to Armstrong’s news on August 28 by showing their support for him. After launching his YouTube channel in February 2018, Armstrong has amassed more than 3.3 million subscribers and social media followers for the BitBoy Crypto brand as of August 2023.
Goodnight, sweet prince. pic.twitter.com/9lyzanjcfe
— PAULY (@Pauly0x) August 28, 2023
It’s not clear if Armstrong’s history of legal trouble played any role in the company’s decision to part ways with him. Since FTX’s demise, authorities around the world have begun focusing on crypto influencers for allegedly pushing fraudulent ventures. To know more updates like this you can join us on our Twitter account.