Ben Armstrong, or Benjamin Charles Armstrong, popularly known as BitBoy Crypto, is a controversial figure. He is a good content creator and is also a hated crypto influencer on YouTube. Even after parting ways with the HIT network, the company that stood behind the brand BitBoy Crypto still continues to draw some attention in the cryptocurrency world.
And the main reasons behind that are his arrest and provocative behavior. This has become the point of focus in all the crypto news. There have been various allegations against him for luring followers into rug pulls.
Who Is Bitboy Crypto?
Ben Armstrong, who is popular by the name BitBoy Crypto, is a prominent figure in the world of digital currency. People celebrated for his YouTube videos and for his social media presence. Born in the United States back in 1982, he currently lives in Atlanta, Georgia. He has a bachelor’s degree in ministry leadership from Toccoa Falls College, which he obtained in 2012. Along with that, he also went to Kennesaw State University.
What Happened To BitBoy Crypto? A Cautionary Tale In The Crypto World
The crypto world, popular for its dynamic nature and innovation, is familiar with a lot of dramatic twists and turns. The present downfall of BitBoy crypto incorporates a dramatic shift.
The article records the complex series of events that led to Armstrong’s downfall. It sheds light on the nooks and crannies of the content creation space of cryptocurrencies as well as the personal struggles that people often do not notice and stay behind the scenes.
Early Beginnings And A Partnership Forged
The story of Ben Armstrong or BitBoy crypto started with a lot of potential and promise. TJ Shedd and Ben Armstrong crossed paths in 2018 and became the CEO of BitBoy Crypto. Moreover, they shared common grounds and had a passion for creating crypto content. Both of them had an interest in the nascent field. They bonded over their shared interest. This slowly turned into a partnership that made waves in the crypto world.
However, by the year 2020, Armstrong’s BitBoy Cryptogained traction, and that happened after Shedd’s involvement. Together, they transformed the YouTube channel into a burgeoning business. BitBoy Crypto saw a high point in the 2021 Bull Run. Along with that, the YouTube channel had its subscriber count hit the sky, and its influence peaked in the crypto space at that time.
Even after their success, there was a lot of trouble under the surface. Misappropriation of funds, allegations of substance abuse, along allegations of mistreating the employees also emerged. According to reports, Armstrong’s behavior became erratic, along with questionable decision-making and instances of aggression.
Bitboy Crypto In 2023: Ben Armstrong’s Final Falloff
All through 2023, BitBoy crypto got involved in various legal disputes and controversies. This led to a few important notable changes in his career and the brand as well. Here is a timeline of the important events:
Lawsuit Over Racketeering And Lamborghini Allegations:
In 2023, Armstrong filed a lawsuit against Timothy Shedd Jr, who is the CEO of Hit Network, and the CFO of Hit Network, Timothy Shedd Sr, and his other former colleagues. He accused them of being engaged in racketeering activities and stealing his Lamborghini. Armstrong also claimed that they threatened him to transfer the title of his Lamborghini and used his Twitter account to intimidate and harass him.
Fundraising For Legal Battle
Armstrong raised almost $150,000 in cryptocurrency from the fans and, with the amount, sued the parent company that removed him from the brand BitBoy Crypto. Moreover, he raised this huge amount in just three days after he made the request to raise funds for the legal defense.
The official Twitter account of BitBoy Crypto announced that Armstrong was dismissed because of his drug abuse. All of these caused physical, financial, as well as emotional damage to the company. The parent company, Hit Network, and BJ Investment Holdings made the decision.
Controversies And Legal Issues:
Armstrong’s exit came with a lot of controversies. It included his involvement with the BEN token, a meme coin, and accusations of dumping the holdings when he promised to lock them. However, this swirled up a lot of speculation about his intentions, and he faced a lot of criticism from the crypto community.
Alleged Internal Strife:
Armstrong also claimed a “coup attempt” within the company and said Justin Williams and TH Shedd tried to oust him. This, in return, added to the internal conflicts within Hit Network and BitBoy Crypto.
Plans To Relocate Business:
Amid mounting legal trouble and regulatory pressure in the US, Armstrong announced plans to move his business from the US to Dubai. However, it was not confirmed if the companies behind BitBoy Crypto would continue with this plan after cutting ties with Armstrong.
Relaunch As Discover Crypto:
After Armstrong separated, BitBoy Crypto again rebranded as Discover Crypto. A new talent now leads it, and the channel aims to focus mainly on crypto, the blockchain ecosystem, and Bitcoin. It offers educational content and in-depth analysis. The CEO of the new company, Discover Crypto, is TJ Shedd, and he seems quite confident in the new direction. He mentioned that this rebranding is a lot more than just changing the name of the brand, it is also a commitment towards taking the industry forward.
Is Bitboy Crypto In Jail?
BitBoy Crypto is not in jail currently. He was arrested and then released on bail in 2023. He was arrested late at night after a confrontation with his business partner(former).
Future And Financial Speculations
The financial aspect of his career is still under speculation. There are rumors of the financial mismanagement of the company and poor investment adds more to the complex narrative. The future of BitBoy Crypto, both as an individual influencer and as a brand, is still uncertain in this volatile cryptocurrency world.