YouTuber Ben Armstrong dropped by the BitBoy Crypto brand
August 29, 2023 4:43 AM
The crypto influencer brand had more than 3.3 million followers at the time the business announced Ben Armstrong will no longer be associated with "BitBoy Crypto."
Hit Network, the parent company that owns the "BitBoy Crypto" brand, severed connections with its public face, Ben Armstrong, due to substance addiction and the resulting financial damage to the company and its employees.
As reported on YouTube and other social media on August 28, a corporate representative explained→ that the decision was made after the company made attempts to help Armstrong "during his relapse into substance abuse," and that the company was sorry that the commercial connection had come to an end. According to Hit, Armstrong caused "emotional, physical, and financial damage" to its employees and others in the industry.
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.
Amid the litigation, court documents claimed that Armstrong threatened the plaintiffs' lawyers and openly mocked the power of a federal judge by not showing up to court as instructed. On June 16th, the proceedings were halted.
Armstrong used his over 1 million X (previously Twitter) followers and YouTube subscribers to criticize prominent personalities including European Central Bank President Christine Lagarde and SEC Chair Gary Gensler. He sued YouTuber Erling Mengshoel Jr., better known as "Atozy," for slander in August 2022, but they settled out of court after Mengshoel Jr. funded over $200,000 for his defense.
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. In February 2018, Armstrong began uploading videos to YouTube; by August of 2023, the BitBoy Crypto brand had amassed over 3.3 million followers across all platforms.
Armstrong's past legal troubles may have been a factor in the company's decision to no longer employ him, albeit this cannot be confirmed. Authorities in many countries have been going after crypto influencers ever since the FTX collapsed, accusing them of spreading false information about shady projects they were pushing.