Who Is Ben Armstrong? A Deep Dive Into BitBoy Crypto

Who Is Ben Armstrong?

Ben Armstrong is an American crypto influencer who gained fame and notoriety with the BitBoy Crypto YouTube Channel. The channel produced crypto-specific content, ranging from news pieces to in-depth analyses and exclusive interviews with industry leaders. At its peak, the platform boasted over 1.4 million subscribers, making it one of the most influential cryptocurrency content channels on YouTube.

The 41-year-old left the channel after falling out with former associates, including longtime ally TJ Shedd. This departure followed a series of exposés that linked him to different crypto scams and questionable promotional activities. Armstrong has since opened a new channel with a following of 84 thousand subscribers, attempting to rebuild his reputation in the cryptocurrency community.

Education

Armstrong's LinkedIn profile shows that he attended Toccoa Falls College from 2009 to 2012. He graduated with a Bachelor's Degree in Ministry Leadership from the Christian liberal arts institution located in Georgia. This educational background in ministry would later influence his approach to cryptocurrency advocacy, as he often positioned himself as a "minister" for crypto adoption. He also mentions attending Kennesaw State University but doesn't specify his field of study or dates of attendance.

Achievements

The Atlanta resident and father of three describes himself as a crypto lover and content creator. He fashions himself as a minister for the mainstream adoption of Bitcoin and other digital assets, often using religious metaphors to describe his mission in the cryptocurrency space. He maintains an active presence on his website, social media platforms like X (formerly Twitter) and TikTok, and his YouTube channel.

Besides content creation, Armstrong has built a merchandise empire selling branded products to his dedicated fanbase. He counts the following as some of his main achievements:

• Founding BitBoy Crypto, High Throughput Productions, and HIT Network. However, as stated, he has now parted ways with associates with whom he co-founded these organizations following a contentious split.
• Owner/Designer at Ben Armstrong Designs since January 2015. This entity deals with SEO, web design, graphic design, and other digital marketing services.
• Owner of Front Page Tickets since January 2011, demonstrating his entrepreneurial spirit beyond the crypto space.
• Co-host at Beards and Bitcoins from September 2018 to January 2021, a podcast that combined personal lifestyle content with cryptocurrency discussions.
• Executive Director at Three Dimensional Life from October 2015 to August 2018, showcasing his leadership experience in non-profit organizations.

How Did BitBoy Crypto Make His Fortune?

BitBoy Crypto's fortune stems from several diverse sources. He entered the crypto space early, investing in Bitcoin around 2012 when the cryptocurrency was still relatively unknown to mainstream audiences. Since then, Bitcoin's value has appreciated significantly, as have his other crypto holdings, providing substantial returns on his early investments.

Armstrong's largest fortune maker was, perhaps, his YouTube channel. He ran a thriving BitBoy Crypto YouTube Channel that, at its peak, had over 1.4 million followers. This massive audience allowed him to generate substantial revenues through sponsorships and affiliate marketing. The channel brought in approximately $40,000 in monthly ad revenues by recommending different crypto and blockchain products and services to his dedicated viewer base.

Additionally, BitBoy Crypto monetized his large following, named the BitSquad Community. He introduced different subscription-based services to the community and sold exclusive content to generate additional income streams. These premium offerings included early access to videos, exclusive market analyses, and members-only Discord channels.

BitBoy Crypto also demonstrated a keen eye for business opportunities. He had a similarly named podcast, which brought him additional income through ads and endorsements from cryptocurrency projects and blockchain companies. He also built a thriving merchandise business through which he sold his fans several branded products, like t-shirts, hoodies, and mugs featuring BitBoy Crypto logos and slogans.

Ben Armstrong is also the author of a book titled Catching Up To Crypto, which he sells through his different channels, websites, and major retailers like Amazon. The book aims to educate newcomers about cryptocurrency investing and blockchain technology. He also collaborated with different crypto projects, receiving substantial fees for promoting their products and services to his extensive audience.

BitBoy's Current Net Worth

Two factors make estimating BitBoy's net worth extremely difficult. First, he has yet to disclose his wealth publicly, and second, most of it is tied to cryptocurrency holdings, which are highly volatile. Based on market conditions, his holdings could vary significantly and sharply from day to day.

Many cite BitBoy's net worth to lie within the $8 million to $30 million range; most estimates put that figure at around $20 million. However, these figures remain speculative and unverified, as Armstrong has not provided detailed financial disclosures.

Crypto Projects Linked With Ben Armstrong

Ben Armstrong has had associations with various crypto projects throughout his career, some with a dubious reputation that later damaged his credibility. Here's a breakdown of his past and present connections:

• DistX: He vouched for this project as a "scam-proof" coin, only for it to turn out to be a rug pull, leading his viewers to significant financial losses. This incident remains a significant blot on his image and credibility within the crypto community.
• Hex: Armstrong pushed this high-interest blockchain certificate of deposit project. Hex has raised eyebrows for its extremely high yield rate, and its detractors have raised concerns over its ponzi-like structure and sustainability.
• SafeMoon: BitBoy initially promoted this DeFi token enthusiastically to his audience. However, he later expressed doubts about the project's sustainability despite holding some SafeMoon tokens. Renowned YouTube investigator Coffeezilla had also flagged this project as a slow rug pull.
• PSYOP: Armstrong began promoting PSYOP in May 2023, soon after acquiring another memecoin, BEN, from the project's owner, crypto developer ben.eth. Some of the project's opponents have cast doubts on its legitimacy and transparency, claiming it presents significant scam risks.
• BEN Coin: Armstrong acquired this token from crypto developer ben.eth. Like its sister token PSYOP, BEN faces legal scrutiny and questions about its underlying value proposition.

What Happened To BitBoy Crypto?

Referring to BitBoy Crypto could mean one of two interrelated things. On the one hand, it is the name of a defunct YouTube channel promoting cryptocurrency adoption and education. On the other hand is Ben Armstrong, the charismatic personality credited with catapulting the channel to fame and building its massive following.

The two have gone in two different directions following a contentious split.

The YouTube channel has rebranded after its management severed ties with Armstrong amid allegations of misconduct and ethical violations. Similarly, the crypto influencer has reestablished himself under a new moniker, attempting to rebuild his reputation and audience.

But he continues drawing controversy after several crypto users accused him of allegedly promoting meme coins, which turned out to be scams. In early 2024, Armstrong is embroiled in an ongoing legal tussle with his former partners over a Lamborghini that he claims they gifted him, adding another chapter to his controversial story.

The Atozy Exposé: Unmasking Scams

Atozy is a popular YouTuber who focuses on cryptocurrency analysis and scam exposure. He released a video detailing how BitBoy Crypto promoted a crypto project called PAMP. This video and subsequent commentary have put Armstrong on the defensive. It alleges that BitBoy has pushed pump-and-dump schemes, including PAMP. These projects leave adopters with worthless coins when their prices crash after initial hype.

Atozy accused BitBoy of presenting overly optimistic predictions and hyping low-quality projects without proper due diligence. Armstrong, however, vehemently denied the accusations. He maintained that his role is to educate his fans on cryptocurrencies and identify the best investment opportunities. He reiterated that his content empowered his followers and dismissed Atozy as a slanderer attempting to damage his reputation.

Their conflict escalated publicly, with Atozy claiming BitBoy had threatened to sue him for defamation. The latter, however, backed off after Atozy successfully raised $200,000 in contributions towards his legal defense fund from the crypto community.

ZachXBT vs. BitBoy

ZachXBT is an anonymous blockchain investigator who has made a name for exposing scams and dubious dealings within the crypto industry. He delves deep into projects, looking for red flags and evidence of fraud, and shares his findings through X and independent articles that have helped protect many investors.

He has had an adversarial relationship with BitBoy Crypto. ZachXBT accused BitBoy of promoting scams and profiting off of his viewers by pushing dubious projects without proper disclosure. His bone of contention with Armstrong is that he isn't forthright with information regarding sponsored content and potential conflicts of interest that could mislead his audience.

But as expected, Armstrong disputed those allegations strongly. He insisted that he thoroughly researches projects before promoting them to his audience. To him, ZachXBT is spreading misinformation and attempting to ruin his reputation within the cryptocurrency community.

HIT Network's Shocking Announcement

In an unprecedented move, the HIT Network announced that it was terminating its relationship with Armstrong on August 28, 2023. The firm laid out the reasons for sacking its founder through a detailed X post. These included alleged substance abuse, misappropriation of funds, and subjecting the firm to emotional and physical damage through his behavior.

Armstrong dismissed the move as a coup motivated by betrayal led by TJ Shedd and other former associates. He insisted he was still in charge of the firm and filed a court case challenging his removal. Another case regarding his relationship with his previous partners is still pending in the legal system.

Controversies And Legal Issues

The controversies surrounding BitBoy are numerous and complex, making it difficult to pinpoint one specific issue as the primary problem. Here's a breakdown of some significant controversies that have damaged his reputation:

Substance Abuse And Internal Strife

In 2023, HIT Network fired Ben Armstrong from BitBoy Crypto, the media company he founded. The firm listed allegations of substance abuse and causing it "emotional, physical, and financial damage" as primary reasons for his termination. Armstrong claimed there was an "internal coup" orchestrated by his former colleagues, with conflicting narratives about the nature of his departure and who was truly responsible.

Plagiarism And Misinformation

BitBoy has faced accusations of plagiarizing content from various sources, including artwork, scripts, and research findings from other creators. He denies these allegations, claiming fair use or misunderstanding of copyright laws. Concerns exist about the authenticity and originality of his content, raising questions about the accuracy of the information he shares with his audience.

Promotion Of Risky Investments And Scams

Some critics argue that BitBoy promotes risky investments and potentially fraudulent projects without properly discussing potential conflicts of interest or the risks involved. For example, the Atozy Exposé by YouTuber Coffeezilla delves into alleged scams and unethical practices within the crypto community. BitBoy features prominently in those investigative videos.

Legal Battles

Armstrong has instituted legal proceedings against his erstwhile partners at HIT Network. In one of the two suits against his friends turned foes, he is seeking redress for his dismissal from the firm. He has adduced evidence suggesting that he remains the majority shareholder at HIT Network and was unlawfully removed.

In the second lawsuit, he has sued the same parties for allegedly taking control of his X account. He says they aimed to publicly embarrass and intimidate him into transferring a Lamborghini Huracan to Carlos Diaz. Additionally, he wants the courts to find the defendants guilty of racketeering and threatening him with physical harm.

On another legal front, he faced a class-action lawsuit against several crypto influencers for promoting the infamous FTX crypto exchange before its collapse. However, the plaintiffs later applied for his dismissal from the proceedings.

Ethical Concerns And Lack Of Transparency

Questions also linger about his unethical practices within BitBoy Crypto. These majorly center on his financial dealings and potential conflicts of interest when promoting projects. The lack of transparency about his finances and the company's internal workings further fuels this criticism from the crypto community.

Fundraising For Legal Battle

Armstrong launched a fundraiser for his legal fees in light of the multiple legal actions he is pursuing against his former partners. An outpouring of public sympathy after tweeting about his financial woes saw him net over $150,000 in a few hours. In the video, he stated that his former partners had taken all his money and were blackmailing him because of the ongoing case.

This move drew divided reactions from the public. Some sections of crypto Twitter expressed outrage at him for asking for donations. They argued that Armstrong was a man of considerable means who could afford to fund his legal obligations without seeking public assistance.

Nevertheless, his sympathizers supported him, insisting he was a victim of unfair targeting by former business partners. It's unclear how much his legal fees will eventually come to. However, they could likely reach substantial figures given the complexity of the cases.

Alleged Internal Strife At BitBoy Crypto

Armstrong's sacking revealed a behind-the-scenes power struggle at BitBoy Crypto. This pitted the crypto influencer against a group led by TJ Shedd. Shedd's group decided to oust him owing to his alleged misconduct, which included substance abuse, harassing employees, and financial impropriety.

The move didn't sit well with Armstrong, who accused Shedd of orchestrating a coup. He held that their allegations lacked foundation, suggesting that his detractors were motivated by selfish motives and desire to control the company.

Plans To Relocate Business

Reports in early 2023 indicated that BitBoy Crypto was considering moving its operations to Dubai. The motivation for that move would have been the perceived benefit of Dubai's favorable tax regulation and growing crypto adoption. However, Armstrong's ouster from the company put paid to these plans.

Relaunch As Discover Crypto

After Armstrong's exit, the BitBoy Crypto YouTube Channel ceased operations under that name in October 2023. Instead, the HIT Network that owned it rebranded it to Discover Crypto. Its management affirmed that the platform had infused the team with new blood to spearhead its transition from its predecessor.

This new entity's focal point would be the key issues affecting the crypto and blockchain ecosystem. That was in contrast to the personality-driven presentation that Armstrong favored. With this new shift, it hopes to win the trust of its fanbase and rebuild credibility.

TJ Shedd, Discover Crypto's CEO, reiterated the need for this reset in the wake of BitBoy Crypto's debacle. He stated:

"This is a pivotal moment for us: it's more than a rebrand – we're committing to offering compelling, educational, and engaging content that moves the industry forward, not backward."

Police Intervention And Firearm Discovery

The Gwinnett County Sheriff's Department arrested Armstrong in late 2023 following an altercation with his estranged associate, Carlos Diaz. BitBoy would later take to X, confirming his arrest. He tweeted tongue in cheek about being a loiterer and his 8-hour ordeal in the county jail. Diaz also released CCTV footage showing their public confrontation.

Before the incident, Armstrong had tweeted about going live from a special venue that turned out to be Diaz's house. YouTube footage shows him arguing with Diaz while linking him to the mob and making various accusations.

Police arrived shortly and questioned him before arresting him on the scene. At the time, the disgraced crypto promoter had a firearm and an unnamed female companion in his car.

Is BitBoy Crypto In Jail?

No, Ben Armstrong is not in jail in recent times. The department booked him for loitering/prowling and simple assault. Armstrong posted $2,600 in bail after spending eight hours behind bars. At the center of the dispute was a Lamborghini that Ben claims Carlos and other associates had defrauded him of.

Always DYOR Regardless Of What An Influencer May Say

BitBoy Crypto's rise and fall puts crypto influencers firmly in the spotlight. Although they do an excellent job of educating the public about cryptocurrencies and their investments, some may be using their platforms to mislead their followers intentionally for personal gain. It also highlights the public's responsibility to conduct thorough due diligence on the projects they want to invest in, regardless of who promotes them.

FAQ

Who is Ben Armstrong and why is he famous in the cryptocurrency community?

Ben Armstrong, known as 'Bitboy Crypto,' gained fame through his YouTube channel covering cryptocurrency analysis and market commentary. However, his reputation has been complicated by legal issues, including recent arrest allegations related to harassment charges.

BitBoy Crypto频道是做什么的？Ben Armstrong通过它做了什么？

BitBoy Crypto is a YouTube channel providing cryptocurrency news, project reviews, and trading advice. Ben Armstrong created it in 2018 to share crypto updates and has expanded to BitBoy News, offering exclusive coverage and perspectives on bitcoin and digital assets.

What is Ben Armstrong's background and professional experience? How did he enter the cryptocurrency field?

Ben Armstrong, known as BitBoy, is a prominent cryptocurrency YouTuber who gained fame through insightful digital currency videos. He entered crypto through his YouTube channel, becoming one of the most popular voices in the cryptocurrency community globally.

What controversies has Ben Armstrong sparked in the crypto community?

Ben Armstrong faced major backlash for pump-and-dump allegations involving the BEN token. He promised to hold for six months but sold all his tokens within a week, causing significant community outrage and damaging his reputation in the crypto space.

How much influence does BitBoy Crypto have? How do fans view Ben Armstrong's advice?

BitBoy Crypto commands significant influence within crypto communities as a prominent YouTuber and influencer. His followers actively engage with his market analysis and investment recommendations, though opinions on reliability vary among the community members.

Ben Armstrong predicted several important cryptocurrency market events and trends, including the rise of DeFi, Layer 2 solutions, meme coins, and GameFi. He also highlighted regulatory changes' market impact.

Ben Armstrong predicted the rise of DeFi and Layer 2 solutions, meme coins surge, and GameFi potential. He emphasized regulatory changes' significance in shaping market dynamics and early adoption opportunities.