BJ Investments Holdings, the cryptocurrency firm behind the crypto influencer brand BitBoy, has ended its partnership with Youtuber Ben Armstrong, surprising many in the crypto community.
This sudden split comes after hints of behind-the-scenes issues. The company and Armstrong announced the breakup independently.
Ben Armstrong No Longer Available At BitBoy As A Host
The dissolution of this major crypto partnership has ignited discussion across social media and crypto news outlets. Some fans are disappointed, while others speculate about the reasons for the breakup since few details were provided.
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 influential YouTube channel gained a large audience for making complex crypto concepts accessible. Their separation leaves many wondering what projects are next. BitBoy may pivot to new content styles, and Armstrong will likely continue his crypto commentary.
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It’s worth mentioning that Ben Armstrong previously insulted high-profile figures on his YouTube channel and X, boasting more than 1 million followers. Gary Gensler, Chairman of the US Securities Exchange Commission (SEC), and Christine Lagarde, president of the European Central Bank, were among these personalities he mocked.
Notably, the YouTuber had been involved in a crypto lawsuit where investors alleged Armstrong and other Influencers were constantly promoting FTX without disclosing any compensation from the Exchange.
Legal Actions Against Ben Armstrong
During the lawsuit, court filing elaborated that Armstrong threatened the lawyers representing plaintiffs to take legal actions, and he mocked the Federal Judge’s authority by not appearing in the court on the day of the court hearing. Hence, the case stayed pending on 16 June.
Previously in August 2022, Armstrong filed a lawsuit against YouTuber, “Erling Mengshoel Jr.” known as “Atozy,” claiming that he defamed Armstrong’s citations. But as Erling raised $200,000 for his defense, he dropped.
Many X and YouTube users reacted with support for Armstrong following the August 28 announcement, expressing concern with the future of the “BitBoy Crypto” brand without its most recognizable face. Armstrong launched his YouTube channel in February 2018, and as of August 2023, the BitBoy Crypto brand had a total social reach of more than 3.3 million followers.