Recently, crypto influencer and YouTuber Ben Armstrong was removed from the Bitboy Crypto Company. Apparently, this crypto influencer was seen as the company's founder and has earned the nickname of Bitboy within the crypto community. So, it was quite a surprise when the Bitboy Crypto Company announced that they are parting ways with Ben Armstrong and will be taking legal action against the crypto influencer. It is at this stage many crypto enthusiasts knew whatever was happening was really serious. But what could have caused the debacle between the two parties?
BJ Investment Holdings, the parent company of Hit Network, took to X (formerly Twitter) to make the announcement regarding the recent decision. There's something about this decision that is quite intriguing. It shows some of the things that have been happening behind the scenes without the knowledge of the wider crypto community.
According to the speculations fueled by Bitboy Crypto in their latest announcement, Ben Armstrong has been suffering from huge substance abuse. Furthermore, the crypto influencer had many relapses, which made them take the cumulative decision of letting Armstrong out of the brand. Abusing substance wasn't the only thing that led to this decision.
It has been reported that Ben Armstrong caused emotional, physical, and financial harm to employees of companies and firms associated with the Bitboy Crypto brand, including those of the Hit network and the Bitboy Crypto community. As a result, the brand made the difficult decision to remove Armstrong as a representative and disassociate him from the brand.
This action was taken to safeguard the well-being of their employees and the wider community from any inappropriate behavior. Despite this move, the company wishes Armstrong the best in his future endeavors.
"Yesterday, BJ Investment Holdings, the parent company of Hit network, took decisive legal action in removing Ben Armstrong from the company, specifically the Bitboy Crypto brand," the Bitboy brand said on Twitter (now X).
Reactions from the Crypto Community
Reactions have been pouring in regarding the recent situation. It's worth noting that users are concerned about the future of the Bitboy Crypto brand now that its number-one influencer has left the company. Ben Armstrong is undoubtedly the face of the Bitboy Crypto brand, and many people associate the brand with his nickname, Bitboy Crypto. In fact, most people don't even realize that Bitboy Crypto is a brand name in itself.
Hence, many commented on the situation, saying the Bitboy Crypto brand would soon die without Ben Armstrong leading the lines. Some of the comments that appeared in the announcement include "This channel is nothing without Ben," "Ben IS Bitboy, this may affect you terribly," and "How do you have Bitboy Crypto without Bitboy."
No doubt, removing Armstrong from the Bitboy brand will affect them heavily. But the new leaders say it is for the good and reputation of the brand.
Previously, Ben Armstrong had been accused of promoting FTX, the bankrupt crypto exchange, without disclosing how he was paid. This incident made him enter into a debacle with Adam Moskowitz, a lawyer. Then, Armstrong had threatened to go after the license of this lawyer. He was also accused of dumping his $BEN tokens on investors at the worst of times.
"I’m coming for your license, sir. Relentlessly. You made a big mistake. And you will pay for it," he said.