Dive into the dynamic world of BitBoy, a top crypto influencer. From his explosive twitter growth to dramatic controversies, uncover the story behind his fame and the challenges that followed.
Who Is Bitboy Crypto?
Ben Armstrong, known popularly as BitBoy Crypto, is a prominent figure in the digital currency space, celebrated for his insightful YouTube videos and social media presence. Born on October 27, 1982, in the United States, Armstrong currently resides in Atlanta, Georgia. His educational background includes a bachelor’s degree in Ministry leadership from Toccoa Falls College, obtained in 2012. Moreover, he also attended Kennesaw State University.
Armstrong was married to Bethany Armstrong, and the couple are together for approximately 8-9 years. Their relationship evolved from friendship to romance, eventually to marriage. Although the exact date of their wedding is not public. Bethany is known to have a strong interest in reading books and novels, a hobby she often shares on her Instagram account.
BitBoy Crypto (Ben Armstrong) is currently undergoing a divorce, announced in October 2023. He disclosed an affair with Cassandra Wolfe, @DuchessOfDeFi on Twitter, who previously worked at BitBoy Crypto. Wolfe is now associated with the BEN Coin Collective, established by Armstrong post his BitBoy Crypto exit. Armstrong publicly acknowledged and expressed regret for the affair, apologizing to his family.
What Happened To BitBoy Crypto? A Cautionary Tale in the Crypto World
The crypto world, often hailed for its innovation and dynamic nature, is no stranger to dramatic twists and turns. The recent downfall of Ben Armstrong, popularly known as BitBoy Crypto, epitomizes such a dramatic shift.
This article delves into the complex series of events that led to Armstrong’s downfall, shedding light on the intricacies of the crypto content creation space and the personal struggles that often go unnoticed behind the scenes.
Early Beginnings and a Partnership Forged
The story of BitBoy Crypto began with promise and potential. Ben Armstrong and TJ Shedd, who would later become the CEO of BitBoy Crypto, crossed paths in 2018. They found common ground in their passion for crypto content creation and shared aspirations in the then-nascent field. A bond over shared interests, including being fans of the Atlanta Falcons, cemented their relationship. This led to a partnership that would soon make waves in the crypto world.
By 2020, Armstrong’s BitBoy Crypto had gained significant traction, thanks in part to Shedd’s involvement. Together, they transformed what was initially just a YouTube channel into a burgeoning business. The bull run of 2021 marked a high point for BitBoy Crypto. The channel’s subscriber count skyrocketed and its influence in the crypto space peaked during this time.
Despite the success, trouble was brewing beneath the surface. Allegations of substance abuse, misappropriation of funds, and employee mistreatment began to emerge. Armstrong’s behavior reportedly became erratic, marked by instances of aggression and questionable decision-making. This behavior was in part, due to substance abuse, including steroids and other drugs. These were said to exacerbate his anger issues and lead to ‘roid rage.’
The Legal and Emotional Fallout
The situation reached a tipping point when BJ Investment Holdings, the parent company of Hit Network, legally ousted Armstrong from the company. The decision was driven by a combination of Armstrong’s alleged substance abuse, financial mismanagement, and deteriorating behavior towards employees and partners. This move sparked a wave of controversy and public speculation, with Armstrong and his associates exchanging accusations and legal threats.
The rift between Armstrong and Shedd grew deeper, with Armstrong accusing Shedd of betrayal and Shedd lamenting the loss of what he once considered a brotherly relationship. The legal battles and public fallout painted a picture of a partnership that had once been built on mutual respect and ambition, now shattered by personal demons and professional disagreements.
A significant blow to BitBoy’s image as a family man came with the revelation of an affair. This personal scandal, while receiving a mixed response from the public, underscored the intense scrutiny faced by public figures in the digital age.
Bitboy Crypto In 2023: Ben Armstrong’s Final Falloff
Throughout 2023, BitBoy Crypto, has been embroiled in several controversies and legal disputes, leading to significant changes in his career and the BitBoy Crypto brand. Here’s a timeline of the key events:
Lawsuit Over Lamborghini and Racketeering Allegations:
In 2023, Armstrong filed a lawsuit against his former colleagues, including Timothy Shedd Jr. (CEO of Hit Network), Timothy Shedd Sr. (CFO of Hit Network), and others. He accused them of stealing his Lamborghini and engaging in racketeering activities. Armstrong claimed that he was coerced into transferring the title of his Lamborghini under threat of violence and that his Twitter account was used to harass and intimidate him.
Fundraising for Legal Battle:
Armstrong raised around $150,000 in cryptocurrency from his fans to sue the parent company that removed him from the BitBoy Crypto brand. This sum was raised in just three days after he requested funds for his legal defense.
Dismissal Announcement:
The official BitBoy Crypto account on Twitter announced Armstrong’s dismissal, citing his drug abuse, which allegedly caused financial, emotional, and physical damage to the company. The decision came from BJ Investment Holdings and its parent company, Hit Network.
Controversies and Legal Issues:
Armstrong’s exit was mired in controversies, including his involvement with a meme coin (BEN token) and allegations of dumping his holdings despite promising to lock them. This led to speculation about his intentions and criticism from the crypto community.
He was also criticized for giving investment advice without proper training and was named as a defendant in a $1 billion lawsuit against influencers promoting FTX.
Alleged Internal Strife:
Armstrong claimed that there was a “coup attempt” within the company, naming TJ Shedd and Justin Williams as trying to oust him. This added to the internal conflicts within BitBoy Crypto and Hit Network.
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:
Following the separation from Armstrong, BitBoy Crypto rebranded as Discover Crypto. Led by a new roster of talent, the channel aims to focus on the Bitcoin, crypto, and blockchain ecosystem, offering in-depth analysis and educational content. TJ Shedd, the CEO of Discover Crypto, expressed confidence in the new direction. He stated that the rebrand is more than just a name change but a commitment to moving the industry forward.
Ben Armstrong shared a post in November 2023, touting himself as Napoleon – an implication that he would be the savior of Crypto with his Discover Crypto project
Is Bitboy Crypto In Jail?
BitBoy Crypto is not currently in jail. He was, however, arrested and released on bail in 2023. The arrest occurred during the late hours following an apparent confrontation with his former business partner. Armstrong faced charges of “loitering/prowling” and “simple assault by placing another in fear,” with a bond set at $2,600. This incident is part of a series of controversies and legal challenges Armstrong has faced over the past year.
The series of events in 2023 paint a tumultuous picture for Armstrong and the BitBoy Crypto brand. This signifies a significant shift in both his personal career and the brand’s direction in the crypto world.
Financial Speculations and the Future
The financial aspect of BitBoy’s career remains shrouded in speculation. Rumors of poor investments and company financial mismanagement added another layer to the already complex narrative. The future of BitBoy, both as a brand and as an individual influencer, remains uncertain in the volatile world of cryptocurrency.
Bitboy’s Current Net Worth
BitBoy Crypto has a net worth ranging between $20 million to $30 million as of 2023. This substantial wealth accumulation is attributed to his successful career as a cryptocurrency influencer and early investments in the cryptocurrency sphere. Various sources provide slightly different estimates, but are roughly around the above range.
This reflects his influence and earnings in the dynamic world of cryptocurrency. His financial journey in the crypto space, coupled with his content creation and strategic collaborations, has led to this significant accumulation of wealth.
How much money did Bitboy Crypto really lose? Well, it’s hard to say, but earlier this year, he is said to have lost over $700,000 in a crypto hack.
Conclusion
In conclusion, the rise and fall of BitBoy Crypto reflect both the potential and pitfalls of the crypto world. As the community moves forward, it’s crucial to remember the lessons learned from this saga. This ensures a more sustainable and responsible future for crypto content creation.
The story of BitBoy is a testament to the rapid and often unpredictable nature of fame in the digital age. Especially in the volatile world of cryptocurrency. His journey from a modest influencer to a controversial figure encapsulates the highs and lows of internet fame.
As the crypto community continues to evolve, the tale of BitBoy serves as a reminder of the delicate balance between influence, responsibility, and the ever-watchful eye of both the public and regulatory bodies. What do you think about BitBoy’s journey and the controversies surrounding him? Share your thoughts in the comments below.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
Vineet
Vineet is a storyteller based in Mumbai. Having previously worked for various web2 organizations as a journalist, instructional designer, and event manager, he got into blockchain in early 2021. As a musician by passion, he fell in love with the digital megastructures building the future of art and creativity. He believes that web3 unlocks creativity at a higher level, and works towards onboarding music projects to the space.
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