- Bitboy Crypto founder Ben Armstrong has been ousted by his own company alleged substance abuse relapse and harm caused to employees and the community
- Armstrong gained infamy for promoting questionable crypto projects for payment and targeting newcomers with promises of quick riches
- Armstrong claims that a coup has taken place, with a power struggle potentially on the horizon
The crypto world rejoiced yesterday as Ben Armstrong, better known as Bitboy Crypto, was unceremoniously dumped by his own company. In a tweet accompanying a YouTube video, BJ Investment Holdings, the parent company of Hit Network, announced that it had dropped Armstrong following a “relapse into substance abuse” as well as the “emotional, physical and financial damage he has done to the employees of Hit network & the Bitboy Crypto community.” Bitboy Crypto is reputed among the wider crypto space for being one of the worst shills of nonsense crypto projects in return for payment, and it seems that his actions have finally caught up with him.
Scourge of the Crypto Space
Armstrong has been a scourge of the crypto space ever since he yelled his way onto YouTube in February 2018, building up a brand based on shilling shitcoins while pretending to be acting in the crypto community’s best interests.
His target market was and always will be newcomers who know no different, with videos on his channel promising to help viewers ‘GET RICH QUICK’, but the majority of the crypto world know him for what he is: a scrupulous shill who will promote products for anyone who pays up.
Defamation Lawsuit Debacle Made Things Worse
Armstrong was already one of the most reviled shills in the crypto space, but he managed to become less popular last year when he tried to sue a Twitter user who posted a critical video of his role promoting PAMP token, claiming defamation and demanding $75,000 in restitution.
However, the community rallied around Armstrong’s target, Erling Mengshoel, and helped him raise double his financial target. Armstrong dropped the case just a week later, but the damage (well, more damage) was done.
It’s a Coup!
Having alienated himself from another swathe of the crypto community, Armstrong seems to have alienated himself from his own brand, or the ‘Bitsquad’ as the channel nauseatingly calls it:
This difficult decision is a culmination of a prolonged effort to help Ben during his relapse into substance abuse as well as reconcile the emotional, physical and financial damage he has done to the employees of Hit network & the Bitboy Crypto community.
— Bitboy Crypto (@Bitboy_Crypto) August 28, 2023
Yesterday’s show was presented by three other members of the team. They, however, said there would be no ‘Ben bashing’ and promised to stand by the brand. Armstrong, however, saw things differently:
This is Ben.
TJ Shedd & Justin Williams have attempted a coup at my company.
Just confirming what is going around. It’s true. There has been a mutiny at BitBoy Crypto & Hit Network. But it won’t work. They have no leverage
Until they can clone me, I have nothing to worry about
— $BEN (@joinBENCoin) August 27, 2023
The crypto world would dearly love a power struggle over this, ideally ending with the entire facade collapsing, but the world is rarely that benevolent. Until then, let’s enjoy what will inevitably follow.
Buckle up.
