Who Is Ben Armstrong? A Deep Dive Into BitBoy Crypto

Who Is Ben Armstrong?

Ben Armstrong is an American crypto influencer who gained significant fame and notoriety through the BitBoy Crypto YouTube Channel. The channel became a powerhouse in the cryptocurrency content space, producing a wide range of crypto-specific materials including breaking news coverage, in-depth market analyses, project reviews, and exclusive interviews with industry leaders. At its peak, the platform attracted an impressive following of over 1.4 million subscribers, establishing itself as one of the most influential voices in the crypto community.

The 41-year-old content creator eventually departed from the channel following a highly publicized falling out with former business associates, including his longtime ally and partner TJ Shedd. This separation came in the wake of a series of investigative exposés that linked Armstrong to various controversial crypto projects and alleged scams. The fallout significantly damaged his reputation within the cryptocurrency community. Since his departure, Armstrong has launched a new YouTube channel under his own name, which has attracted a following of approximately 84,000 subscribers as he works to rebuild his presence in the crypto content space.

Education

According to Armstrong's LinkedIn profile, he attended Toccoa Falls College from 2009 to 2012, where he pursued higher education in a faith-based academic environment. He successfully graduated with a Bachelor's Degree in Ministry Leadership from this Christian liberal arts institution located in Georgia. This educational background in ministry and leadership would later influence his approach to content creation and community building. His profile also mentions attendance at Kennesaw State University, though specific details regarding his field of study or the dates of his enrollment at this institution are not disclosed.

Achievements

The Atlanta-based resident and father of three children describes himself as a passionate crypto enthusiast and dedicated content creator. He has positioned himself as a sort of minister or evangelist for the mainstream adoption of Bitcoin and other digital assets, working to educate and inspire people to participate in the cryptocurrency revolution. Armstrong maintains an active presence across multiple platforms, including his personal website, social media networks like X (formerly Twitter) and TikTok, and his YouTube channel, where he engages with his audience regularly.

Beyond his content creation endeavors, Armstrong has developed a successful merchandise business, selling branded products to his dedicated fanbase. He lists the following as some of his primary professional achievements:

• Founding BitBoy Crypto, High Throughput Productions, and HIT Network, which became significant players in the crypto media landscape. However, as previously noted, he has since severed ties with the business associates with whom he co-founded these organizations, following disputes and allegations.
• Owner and Designer at Ben Armstrong Designs since January 2015. This business entity provides a range of digital services including search engine optimization (SEO), web design and development, graphic design, and other creative solutions for clients.
• Owner of Front Page Tickets since January 2011, demonstrating his entrepreneurial spirit in the event ticketing industry.
• Co-host of the podcast "Beards and Bitcoins" from September 2018 to January 2021, where he discussed cryptocurrency topics in an accessible and entertaining format.
• Executive Director at Three Dimensional Life from October 2015 to August 2018, showcasing his leadership experience in organizational management.

How Did BitBoy Crypto Make His Fortune?

BitBoy Crypto's substantial fortune stems from multiple diverse revenue streams that he strategically developed over the years. He entered the cryptocurrency space remarkably early, making his initial investment in Bitcoin around 2012 when the digital asset was still relatively unknown to mainstream audiences. Since that prescient early entry, Bitcoin's value has appreciated exponentially, generating significant returns on his initial investment. His diversified cryptocurrency portfolio, which extends beyond Bitcoin to include various altcoins and tokens, has also contributed substantially to his wealth accumulation.

Armstrong's largest and most significant fortune generator was arguably his highly successful YouTube channel. He built and operated the thriving BitBoy Crypto YouTube Channel, which at its zenith boasted over 1.4 million devoted followers. This massive audience enabled him to generate substantial revenues through multiple monetization methods, including lucrative sponsorship deals, affiliate marketing partnerships, and advertising revenue. The channel reportedly brought in approximately $40,000 in monthly advertising revenues alone by recommending various cryptocurrency projects, blockchain products, and related services to his engaged audience.

Additionally, BitBoy Crypto skillfully monetized his large and loyal following, affectionately named the BitSquad Community. He introduced various subscription-based services to this community, offering tiered membership levels with exclusive benefits. He also sold premium content, including detailed investment analyses, early access to videos, and private community access, generating substantial additional income streams.

BitBoy Crypto also demonstrated a keen entrepreneurial eye for business opportunities beyond YouTube. He operated a similarly named podcast, which brought him additional income through advertising deals and endorsement opportunities. He also developed a thriving merchandise business through which he sold various branded products to his enthusiastic fans, including t-shirts, hoodies, mugs, and other memorabilia featuring his logo and catchphrases.

Ben Armstrong is also the published author of a book titled "Catching Up To Crypto," which serves as an educational resource for newcomers to the cryptocurrency space. He sells this book through his various digital channels, his personal website, and major retailers like Amazon. Furthermore, he collaborated with numerous cryptocurrency projects throughout his career, receiving consultation fees and promotional payments for endorsing their products and services to his substantial audience.

BitBoy's Current Net Worth

Two significant factors make accurately estimating BitBoy's net worth extremely challenging for outside observers. First, he has not publicly disclosed detailed information about his wealth or financial holdings, maintaining privacy around his personal finances. Second, the majority of his wealth is tied to cryptocurrency assets, which are notoriously volatile and can experience dramatic price swings within short timeframes. Consequently, based on prevailing market conditions, the value of his holdings could vary significantly and experience sharp fluctuations.

Various industry analysts and observers cite BitBoy's net worth as falling within a broad range of $8 million to $30 million. Most estimates tend to cluster around the midpoint, putting his approximate net worth at around $20 million. However, given the lack of verified financial disclosures and the volatile nature of cryptocurrency markets, these figures should be considered rough estimates rather than definitive valuations.

Crypto Projects Linked With Ben Armstrong

Ben Armstrong has maintained associations with various cryptocurrency projects throughout his career in the industry, though some of these connections have proven controversial and damaged his reputation. Several projects he promoted have been accused of fraudulent practices or have failed spectacularly, leaving investors with significant losses. Here's a comprehensive breakdown of his notable past and present connections:

• DistX: Armstrong enthusiastically vouched for this project, marketing it to his audience as a "scam-proof" coin with solid fundamentals. However, the project ultimately turned out to be a rug pull, where developers abandoned the project and absconded with investors' funds, leading his viewers to suffer significant financial losses. This incident remains one of the most significant blots on his professional reputation and credibility.

• Hex: Armstrong actively promoted this high-interest blockchain certificate of deposit project, which promised unusually high returns to investors. Hex has raised considerable eyebrows within the crypto community for its extremely high yield rates, which many consider unsustainable. Numerous detractors and critics have raised serious concerns about its potentially ponzi-like structure, questioning the legitimacy of its business model.

• SafeMoon: BitBoy initially promoted this DeFi token with great enthusiasm, encouraging his followers to invest in the project. However, he later publicly expressed doubts about the project's long-term sustainability despite personally holding some SafeMoon tokens. Renowned YouTube investigative journalist Coffeezilla subsequently flagged this project as a potential slow rug pull, where value is gradually extracted from investors over time.

• PSYOP: Armstrong began actively promoting PSYOP in May 2023, shortly after acquiring another memecoin called BEN from the project's creator, crypto developer ben.eth. Some vocal opponents of the project have cast serious doubts on its legitimacy and transparency, claiming it represents a significant scam risk for unwary investors.

• BEN Coin: Armstrong acquired this token directly from crypto developer ben.eth in what appeared to be a strategic partnership. Like its sister token PSYOP, BEN has faced legal scrutiny from regulatory authorities, with questions raised about whether it constitutes an unregistered security.

What Happened To BitBoy Crypto?

Referring to "BitBoy Crypto" could mean one of two closely interrelated but distinct things. On one hand, it refers to the name of a now-defunct YouTube channel that was dedicated to promoting cryptocurrency adoption and education. On the other hand, it refers to Ben Armstrong himself, the charismatic personality who is widely credited with catapulting the channel to fame and building its massive following.

The two entities have since gone in dramatically different directions following a bitter split. The YouTube channel underwent a complete rebranding after its management team made the decision to sever all ties with Armstrong. Similarly, the controversial crypto influencer has worked to reestablish himself in the industry under a new personal brand and moniker.

However, Armstrong continues to draw controversy and criticism from various quarters within the crypto community. Numerous cryptocurrency users and investors have accused him of allegedly promoting meme coins and speculative tokens, which subsequently turned out to be scams or failed projects, resulting in substantial losses for his followers. In early 2024, Armstrong found himself embroiled in an ongoing legal battle with his former business partners over ownership of a Lamborghini luxury vehicle that he claims they had gifted him as compensation.

The Atozy Exposé: Unmasking Scams

Atozy is a popular YouTuber who has built a reputation for conducting thorough cryptocurrency analysis and investigation. He released a detailed video that meticulously documented how BitBoy Crypto promoted a cryptocurrency project called PAMP. This explosive video and the subsequent commentary it generated across social media platforms have put Armstrong squarely on the defensive. The investigation alleges that BitBoy has knowingly pushed pump-and-dump schemes, including PAMP, to his unsuspecting audience. These fraudulent schemes typically involve artificially inflating a token's price through aggressive promotion, then selling holdings at the peak, which leaves later adopters holding worthless coins when prices inevitably crash.

Atozy's investigation accused BitBoy of presenting overly optimistic price predictions without proper risk disclosure and hyping low-quality projects with questionable fundamentals. Armstrong, however, vehemently denied all accusations leveled against him. He maintained that his primary role is to educate his fans about cryptocurrencies and identify the best investment opportunities in a rapidly evolving market. He reiterated that his content has empowered thousands of his followers to participate in the crypto revolution and dismissed Atozy as a slanderer attempting to destroy his reputation for personal gain.

Their bitter dispute escalated and blew up publicly across social media platforms, with Atozy claiming that BitBoy had threatened to pursue legal action and sue him for defamation. However, Armstrong reportedly backed off from his litigation threats after Atozy successfully crowdfunded $200,000 in contributions from supporters toward his potential legal defense fund, demonstrating strong community support for the investigative work.

ZachXBT vs. BitBoy

ZachXBT is an anonymous blockchain investigator who has earned widespread respect for exposing scams, fraudulent projects, and dubious dealings within the cryptocurrency industry. He employs sophisticated blockchain analysis tools to delve deep into projects, searching for red flags and concrete evidence of fraud or misrepresentation. He then shares his detailed findings through his X (Twitter) account and independently published articles, helping to protect potential investors from scams.

He has maintained a contentious and adversarial relationship with BitBoy Crypto over an extended period. ZachXBT has repeatedly accused BitBoy of knowingly promoting scam projects and profiting financially from his viewers by pushing dubious tokens and cryptocurrencies of questionable value. His primary bone of contention with Armstrong centers on allegations that he isn't sufficiently forthright with his audience regarding sponsored content, paid promotions, and potential conflicts of interest that could bias his recommendations.

As expected, Armstrong has consistently disputed these serious allegations. He has insisted that he thoroughly researches all projects before promoting them to his audience and only recommends investments he believes have genuine potential. From his perspective, ZachXBT is deliberately spreading misinformation and maliciously attempting to ruin his hard-earned reputation in the cryptocurrency community.

HIT Network's Shocking Announcement

In an unprecedented and dramatic move that sent shockwaves through the crypto community, the HIT Network publicly announced that it was immediately terminating its business relationship with Armstrong on August 28, 2023. The company released a detailed statement laying out the specific reasons for dismissing its founder and most recognizable face. These serious allegations included substance abuse issues, misappropriation of company funds for personal use, and subjecting the firm and its employees to emotional and physical damage through his behavior.

Armstrong swiftly dismissed this move as an orchestrated coup motivated by betrayal and led primarily by TJ Shedd, his former close friend and business partner. He adamantly insisted that he remained the rightful owner and was still in legal control of the firm. Armstrong subsequently filed a lawsuit in court challenging his removal and seeking to regain control of the company. Additional legal cases regarding his complex relationship with his previous business partners remain pending in the court system.

Controversies And Legal Issues

The controversies and scandals surrounding BitBoy are numerous, complex, and multifaceted, making it difficult to pinpoint one single defining issue. The following section provides a comprehensive breakdown of the most significant controversies that have plagued his career.

1. Substance Abuse And Internal Strife

In 2023, HIT Network made the dramatic decision to fire Ben Armstrong from BitBoy Crypto, the very media company he had founded and built from the ground up. The firm publicly listed serious allegations of substance abuse and causing the organization "emotional, physical, and financial damage" as the primary justifications for his termination. Armstrong strongly contested this narrative, claiming there was an "internal coup" orchestrated by his former colleagues who wanted to seize control of the profitable business. Conflicting narratives emerged about the true nature of his departure, with both sides presenting dramatically different versions of events.

2. Plagiarism And Misinformation

BitBoy has faced multiple accusations of plagiarizing content from various sources, including artwork, video scripts, research findings, and analytical content created by others. He has consistently denied these serious allegations, claiming fair use protections under copyright law or asserting misunderstandings about copyright regulations. Nevertheless, significant concerns persist about the authenticity and originality of his content. These plagiarism allegations raise important questions about the accuracy and reliability of the information he shares with his substantial audience.

3. Promotion Of Risky Investments And Scams

Numerous critics and industry observers argue that BitBoy has promoted excessively risky investments and potentially fraudulent cryptocurrency projects without properly disclosing potential conflicts of interest to his audience. For example, the comprehensive Atozy Exposé produced by YouTuber Coffeezilla delves deep into alleged scams and unethical practices within the broader crypto community. BitBoy features prominently in those investigative videos, with detailed evidence presented about questionable promotional activities.

4. Legal Battles

Armstrong has instituted multiple legal proceedings against his erstwhile partners at HIT Network, pursuing his claims through the court system. In one of two major lawsuits against his friends turned adversaries, he is seeking legal redress and financial compensation for his allegedly wrongful dismissal from the firm. He has presented evidence suggesting that he remains the majority shareholder at HIT Network and therefore should retain control.

In the second lawsuit, he has sued the same parties for allegedly taking unauthorized control of his X (formerly Twitter) account. He claims they aimed to publicly embarrass and intimidate him into transferring ownership of a valuable Lamborghini Huracan luxury vehicle to Carlos Diaz. Additionally, he wants the courts to find the defendants guilty of racketeering charges and threatening his personal safety.

On another legal front, he faced inclusion in a class-action lawsuit against several prominent crypto influencers for promoting a certain controversial exchange platform. However, the plaintiffs subsequently applied for his dismissal from the proceedings, removing him from that particular case.

5. Ethical Concerns And Lack Of Transparency

Persistent questions linger about allegedly unethical practices within BitBoy Crypto's operations. These concerns primarily center on his financial dealings, undisclosed business relationships, and potential conflicts of interest that may have influenced his content. The notable lack of transparency about his personal finances and the company's internal workings has further fueled criticism and skepticism from industry observers.

Fundraising For Legal Battle

Armstrong launched a public fundraising campaign to cover his mounting legal fees in light of the multiple legal actions he is simultaneously pursuing against his former partners. An unexpected outpouring of public sympathy emerged after he posted an emotional video on X discussing his dire financial situation. In this appeal, he claimed to have netted over $150,000 in donations within just a few hours. In the video, he stated that his former business partners had seized control of all his financial assets and were actively blackmailing him in connection with the ongoing legal cases.

This controversial fundraising move drew sharply divided reactions from the broader crypto community and public observers. Some vocal sections of crypto Twitter expressed outrage at him for soliciting donations from his followers. They argued that Armstrong was a wealthy individual with substantial means who should be fully capable of funding his own legal obligations without asking for help from his audience.

Nevertheless, his sympathizers and loyal supporters rallied behind him, insisting he was a victim of unfair targeting and betrayal by greedy former partners. It remains unclear exactly how much his total legal fees will eventually amount to as the cases progress through the court system. However, given the complexity and number of legal proceedings, the costs could likely reach six or seven figures.

Alleged Internal Strife At BitBoy Crypto

Armstrong's controversial termination revealed a significant behind-the-scenes power struggle at BitBoy Crypto that had been brewing for some time. This internal conflict pitted the charismatic crypto influencer against an organized group led by TJ Shedd, his former close friend and business partner. Shedd's faction within the company decided to oust Armstrong, citing serious concerns about his alleged misconduct, which they claimed included substance abuse issues, harassing and intimidating employees, and financial impropriety in handling company resources.

The dramatic move didn't sit well with Armstrong, who immediately accused Shedd of orchestrating an elaborate coup to seize control of the profitable business. He firmly maintained that their allegations completely lacked factual foundation and suggested that his detractors were primarily motivated by selfish financial motives rather than legitimate business concerns.

Plans To Relocate Business

Reports circulating in early 2023 indicated that BitBoy Crypto's management was seriously considering relocating the company's primary operations to Dubai in the United Arab Emirates. The motivation behind this potential international move would have been the perceived benefits of Dubai's notably favorable tax regulations for businesses and the region's rapidly growing cryptocurrency adoption and blockchain-friendly regulatory environment. However, Armstrong's unexpected and dramatic ouster from the company effectively put an end to these ambitious international expansion plans.

Relaunch As Discover Crypto

Following Armstrong's contentious exit from the organization, the BitBoy Crypto YouTube Channel officially ceased all operations under that brand name in October 2023. Instead, the HIT Network that owned the channel's assets made the strategic decision to completely rebrand it as Discover Crypto, signaling a fresh start. The platform's new management team affirmed that they had infused the organization with new creative talent and fresh perspectives to successfully spearhead its transition away from its controversial predecessor.

This new entity's primary focal point would shift toward covering the key issues and developments affecting the broader cryptocurrency and blockchain ecosystem. This represented a significant departure from the personality-driven presentation style that Armstrong had favored, which centered content around his personal brand and opinions. With this strategic new direction, the management hopes to gradually rebuild trust and win back the confidence of its fanbase.

TJ Shedd, serving as Discover Crypto's Chief Executive Officer, publicly reiterated the critical need for this complete reset in the wake of BitBoy Crypto's public debacle and damaged reputation. He stated in a press release:

"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 September 2023 following a heated and public altercation with his estranged business associate, Carlos Diaz. BitBoy subsequently took to X to address the incident, confirming his arrest to his followers. He tweeted with a somewhat tongue-in-cheek tone about being charged as a loiterer and described his approximately 8-hour ordeal in the county jail. Diaz also released CCTV security footage showing their tense public confrontation, which quickly went viral across social media platforms.

Prior to the dramatic incident, Armstrong had cryptically tweeted about planning to go live on video from what he described as a "special venue" that ultimately turned out to be Diaz's private residence. YouTube footage captured by bystanders shows him engaged in a heated argument with Diaz while making accusations linking him to organized crime figures.

Local police officers arrived at the scene shortly thereafter and questioned Armstrong at length before making the decision to place him under arrest. At the time of his arrest, the disgraced crypto promoter had a loaded firearm and an unnamed female companion present in his vehicle, which raised additional concerns among responding officers.

Is BitBoy Crypto In Jail?

No, Ben Armstrong is not currently incarcerated in jail. Following his arrest, the Gwinnett County Sheriff's Department officially booked him on charges of loitering/prowling and simple assault. Armstrong successfully posted $2,600 in bail after spending approximately eight hours behind bars in the county jail. At the center of the heated dispute was a valuable Lamborghini luxury vehicle that Armstrong claims Carlos Diaz and other former business associates had fraudulently defrauded him of through deceptive means.

Always DYOR Regardless Of What An Influencer May Say

The dramatic rise and fall of BitBoy Crypto firmly puts cryptocurrency influencers in the spotlight and raises important questions about their role in the industry. While many influencers perform a valuable service by educating the general public about cryptocurrencies and potential investment opportunities, the BitBoy case demonstrates that some may be intentionally or unintentionally using their platforms to mislead their followers for personal financial gain. This cautionary tale highlights the critical responsibility of individual investors to conduct thorough due diligence (DYOR - Do Your Own Research) on any cryptocurrency projects they are considering investing in, regardless of who is promoting them. Never rely solely on an influencer's recommendation when making investment decisions with your hard-earned money.

FAQ

Who is Ben Armstrong and what is BitBoy Crypto?

Ben Armstrong, known as BitBoy Crypto, was a cryptocurrency influencer who built a major brand in the industry. However, his reputation collapsed due to endorsements of failed projects and subsequent legal controversies, significantly damaging his credibility and influence.

What is Ben Armstrong's background and how did he get into cryptocurrency?

Ben Armstrong entered cryptocurrency in 2012 by investing in Bitcoin through BitInstant. Since then, he has become a prominent figure in the crypto industry, building expertise and influence in the digital asset space.

What content does BitBoy Crypto create and what platforms is he active on?

BitBoy Crypto creates daily market updates, token reviews, and sponsored videos. He maintains an active presence on X and Telegram, where he shares his cryptocurrency analysis and insights with his community.

What is Ben Armstrong's influence in the crypto community?

Ben Armstrong, known as BitBoy Crypto, is a prominent crypto influencer with significant media reach. He covers industry trends, market analysis, and controversies through his platform, shaping community discussions and investor perspectives in the digital asset space.

Has BitBoy Crypto been involved in any controversies or scandals?

Yes, BitBoy Crypto faced the 2020 DISTX token scandal involving allegations of promoting a fraudulent token, which significantly impacted his reputation in the crypto community.

What are Ben Armstrong's views on Bitcoin and altcoins?

Ben Armstrong views Bitcoin as a superior store of value and long-term investment, emphasizing its stability and potential. He is often critical of altcoins, believing many lack fundamental value and sustainable utility compared to Bitcoin's established market position.

How does BitBoy Crypto earn money and what is his business model?

BitBoy Crypto generates revenue through YouTube content creation, sponsored partnerships with crypto projects, affiliate commissions, educational courses, and his own crypto-related products and services within the digital assets ecosystem.