BitBoy Crypto, the world’s biggest cryptocurrency-related YouTube channel, revealed on Monday that it had parted ways with its founder Ben Armstrong. What are the reasons behind the brand’s decision?
The YouTube channel BitBoy Crypto is parting ways with its founder
Ben Armstrong is known in the cryptocurrency ecosystem as the face behind YouTube channel BitBoy Crypto, which has 1.45 million subscribers and more than 4,700 videos.
However, the brand announced on Monday that it had parted company with its founder. To enforce this decision, legal action has been taken by BJ Investment Holdings, the parent company of Hit Network, which produces the BitBoy Crypto channel:
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 reasons given for the split are not insignificant, as they reveal a darker side of Ben Armstrong:
“This difficult decision is the culmination of a prolonged effort to help Ben through his relapse into substance abuse as well as to reconcile the emotional, physical and financial damage he has caused to Hit Network employees and the Bitboy Crypto community. BitSquad deserves better and we’ll get there together. We wish him the best and regret that it has come to this and are hopeful for the future of Bitboy Crypto. “
At the heart of the ecosystem built around BitBoy Crypto, there is also a token: the BEN COIN. After the announcement, the BEN COIN fell sharply, losing up to 55% in the space of a few hours. At the time of writing, the token is still trading at a loss of nearly 33% over 24 hours.
The need to part ways with a provocative figure
For his part, Ben Armstrong has not commented on the news. In addition to the antics reported by his company, the influencer has been named in the FTX affair, accused of causing his community to lose money.
On 20 April, when he was supposed to appear in court in Florida to answer for threats made against Adam Moskowitz, the lawyer representing a class action against him, Ben Armstrong did not attend the hearing. Instead, he posted a photo of himself at the beach on X, with a caption that was, to say the least, explicit:
“I’m on the beach!
“I’m supposed to be in court today. I’m not. Why aren’t I? Because I don’t give a shit. “
On the same day, he went further into provocation with a new publication, stating that he had “reconciled” with Adam Moskowitz:
GUYS I MISSED COURT BUT STILL RAN INTO ADAM MOSKOWITZ AND WE MADE UP!
– Bitboy Crypto (@Bitboy_Crypto) April 20, 2023
Given the numerous ongoing cases involving companies in the blockchain ecosystem with various authorities in the United States, it is thus likely that BJ Investment Holdings wanted to distance itself from an embarrassing figure, likely to take it to court.