Who Is Ben Armstrong? A Deep Dive Into BitBoy Crypto

Introduction to Ben Armstrong and BitBoy Crypto

Ben Armstrong and his team built a YouTube channel, BitBoy Crypto, into a giant crypto influencer machine, attracting a cultic following of fans. The channel became one of the most recognizable names in cryptocurrency content creation, offering news, analysis, and educational material to millions of viewers. However, a flood of scandals has since eroded Armstrong's credibility within crypto circles, transforming him from a celebrated figure into a controversial personality.

This comprehensive analysis explores the multifaceted life of Ben Armstrong, examining his rise to prominence in the cryptocurrency space, his various business ventures, and the numerous controversies that have defined his career. We focus on his achievements, much-publicized missteps, and how they've affected both Armstrong and those around him, providing readers with a complete understanding of this polarizing figure in the crypto community.

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, from news pieces to analyses and interviews, establishing itself as a major voice in cryptocurrency education and commentary. At one point, the platform boasted over 1.4 million subscribers, making it one of the largest crypto-focused channels on YouTube.

The 41-year-old left the channel after falling out with former associates, including longtime ally TJ Shedd. That followed a series of exposés that linked him to different crypto scams and questionable promotional practices. He has since opened a new channel with a following of 84 thousand YouTubers, attempting to rebuild his reputation and continue his work in the cryptocurrency space.

Armstrong's educational background reveals interesting insights into his journey. His LinkedIn shows that he attended Toccoa Falls College from 2009-2012, where he graduated with a Bachelor's Degree in Ministry Leadership from the Christian liberal arts institution in Georgia. This religious educational foundation would later influence his approach to cryptocurrency advocacy, as he often positioned himself as an evangelist for digital assets. He also mentions attending Kennesaw State University but doesn't show his field of study or dates of attendance, leaving some gaps in his academic history.

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, drawing parallels between his religious education and his mission to spread cryptocurrency awareness. He is active on his website, social media platforms like X and TikTok, and his YouTube channel, maintaining a strong presence across multiple digital platforms.

Besides content creation, Armstrong sells his merchandise to his fans, creating an additional revenue stream from his personal brand. He counts the following as some of his main achievements: Founding BitBoy Crypto, High Throughput Productions, and HIT Network, though he has now parted ways with associates with whom he co-founded these organizations. He also serves as Owner/Designer at Ben Armstrong Designs since January 2015, an entity dealing with SEO, web, and graphic design services. Additionally, he has been the Owner of Front Page Tickets since January 2011, demonstrating his entrepreneurial spirit beyond cryptocurrency. He previously worked as Co-host at Beards and Bitcoins from September 2018 to January 2021, and as Executive Director at Three Dimensional Life from October 2015 to August 2018.

How Did BitBoy Crypto Make His Fortune?

BitBoy Crypto's fortune stems from several diverse sources, demonstrating his ability to monetize his influence across multiple channels. He entered the crypto space early, investing in Bitcoin around 2012, positioning himself advantageously during the cryptocurrency's formative years. Since then, Bitcoin's value has appreciated significantly, as have his other crypto holdings, potentially generating substantial returns on his early investments.

Armstrong's largest fortune maker was, perhaps, his YouTube channel, which became a powerhouse in crypto content creation. He ran a thriving BitBoy Crypto YouTube Channel that, at its peak, had over 1.4 million followers, making it one of the most subscribed cryptocurrency channels on the platform. Therefore, he could generate substantial revenues through sponsorships and affiliate marketing, creating a lucrative business model. The channel brought in $40,000 in monthly ad revenues by recommending different crypto and blockchain products and services, demonstrating the significant earning potential of crypto influencer marketing.

Additionally, BitBoy Crypto monetized his large following, named the BitSquad Community, creating a loyal fanbase willing to pay for premium content. He introduced different subscription-based services to the community and sold exclusive content to generate more income, diversifying his revenue streams beyond traditional advertising. This approach allowed him to build a more sustainable business model while providing dedicated fans with specialized information and analysis.

BitBoy Crypto also has a keen eye for business opportunities beyond his primary channel. He had a similarly named podcast, which brought him additional income in ads and endorsements, expanding his reach across different media formats. He also had a thriving merchandise business through which he sold his fans several of his products, like t-shirts and mugs, capitalizing on his personal brand recognition.

Ben Armstrong is also the author of a book titled Catching Up To Crypto, which he sells through his different channels, websites, and retailers like Amazon. This publication serves as another income source while establishing his credibility as a cryptocurrency expert. He also collaborated with different crypto projects, receiving fees for promoting their products and services, though these partnerships would later become a source of controversy.

Regarding BitBoy's net worth, two factors make estimating his wealth extremely difficult. First, he has yet to disclose his wealth publicly, maintaining privacy around his financial situation. Second, most of it is tied to crypto, which is highly volatile, meaning his holdings could vary significantly and sharply based on market conditions. Many cite BitBoy's net worth to lie within the $8 million to $30 million range, with most estimates putting that figure at around $20 million, though these figures remain speculative without official confirmation.

Crypto Projects Linked With Ben Armstrong

Ben Armstrong has had associations with various crypto projects throughout his career, some with a dubious reputation that would later contribute to his controversial standing in the community. Here's a breakdown of his past and present connections:

He vouched for DistX as a "scam-proof" coin, only for it to turn out to be a rug pull, leading his viewers to significant losses. This incident remains a significant blot on his image and raised serious questions about his due diligence process when recommending projects to his audience.

Armstrong pushed Hex, a high-interest blockchain certificate of deposit project that has raised eyebrows for its extremely high yield rate. Its detractors have raised concerns over its ponzi-like structure, suggesting that the returns promised may not be sustainable long-term. Despite these concerns, Armstrong continued to promote the project to his followers.

BitBoy initially promoted SafeMoon, a DeFi token, enthusiastically, presenting it as a promising investment opportunity. But he later expressed doubts about the project's sustainability despite holding some SafeMoon tokens himself. Renowned YouTube sleuth Coffeezilla had also flagged this project as a slow rug pull, adding credibility to concerns about the token's legitimacy.

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's a scam risk. The timing of his promotion raised questions about potential conflicts of interest.

Armstrong acquired BEN Coin from crypto developer ben.eth, creating a direct financial interest in the token's success. Like its sister token PSYOP, BEN faces legal scrutiny, adding to the growing list of controversial projects associated with Armstrong's name.

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. On the other hand is Ben Armstrong, credited with catapulting the channel to fame. The two have gone in two different directions, with the channel rebranding and Armstrong starting anew.

The YouTube channel has rebranded after its management severed ties with Armstrong in a dramatic split that shocked the crypto community. Similarly, the crypto influencer has reestablished himself under a new moniker, attempting to rebuild his audience and reputation from scratch.

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 became embroiled in an ongoing legal tussle with his former partners over a Lamborghini that he claims they gifted him, adding another chapter to his troubled relationship with his former associates.

The Atozy exposé marked a turning point in Armstrong's career. Atozy is a popular YouTuber who focuses on cryptocurrency analysis. He released a video detailing how BitBoy Crypto promoted a crypto project called PAMP. This video and subsequent commentary have put Armstrong on defense. It alleges that BitBoy has pushed pump-and-dump schemes, including PAMP, where projects leave adopters with worthless coins when their prices crash.

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

Their tiff blew up publicly, with Atozy claiming BitBoy had threatened to sue him for defamation. The latter, however, backed off after Atozy bagged $200K in contributions towards his legal defense, demonstrating the crypto community's willingness to support those exposing potential fraud.

ZachXBT, an anonymous blockchain investigator who has made a name for exposing scams and dubious dealings within the crypto industry, also became an adversary. He delves into projects, looking for red flags and evidence of fraud, and shares his findings through X and independent articles. 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. His bone of contention with Armstrong is that he isn't forthright with information regarding sponsored content and potential conflicts of interest.

But as expected, Armstrong disputed those allegations. He insisted that he thoroughly researches projects before promoting them. To him, ZachXBT is spreading misinformation and attempting to ruin his reputation through unsubstantiated claims.

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, which included alleged substance abuse, misappropriation of funds, and subjecting the firm to emotional and physical damage. This shocking announcement sent ripples through the crypto community.

Armstrong dismissed the move as a coup motivated by the betrayal led by TJ Shedd. 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 remains pending, with both sides presenting conflicting narratives about the circumstances of his departure.

Controversies And Legal Issues

The controversies surrounding BitBoy are numerous and complex, making it difficult to pinpoint one specific issue as the root cause of his downfall. Here's a breakdown of some significant controversies:

Regarding 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 reasons for his axing. Armstrong claimed there was an "internal coup" orchestrated by his former colleagues, with conflicting narratives about the nature of his departure creating confusion among his followers.

BitBoy has faced accusations of plagiarizing content from various sources, including artwork, scripts, and research findings. He denies these allegations, claiming fair use or misunderstanding 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.

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

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, challenging the legality of his removal.

In the second lawsuit, he has subdued 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, escalating the legal battle significantly.

On one other front, he faced a class-action lawsuit against several crypto influencers for promoting the infamous FTX crypto exchange. However, the plaintiffs later applied for his dismissal from the proceedings, though the reasons for this dismissal remain unclear.

Questions also linger about his unethical practices within BitBoy Crypto. These majorly center on his financial dealings and potential conflicts of interest. The lack of transparency about his finances and the company's internal workings further fuels this criticism, making it difficult for his audience to assess his credibility.

Fundraising For Legal Battle

Armstrong launched a fundraiser for his legal fees in light of the multiple legal actions he is pursuing. 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 case, painting himself as a victim of betrayal.

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 means who could afford to fund his legal obligations, pointing to his estimated multi-million dollar net worth.

Nevertheless, his sympathizers supported him, insisting he was a victim of unfair targeting by former associates seeking to destroy his reputation and livelihood. It's unclear how much his legal fees will eventually come to. However, it could likely hit top figures, given the complexity and number of cases involved.

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 misconduct, which included substance abuse, harassing employees, and financial impropriety, creating a toxic work environment.

The move didn't go 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 a desire to take control of the lucrative business he had built.

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, ending any possibility of international expansion.

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, signaling a complete break from the Armstrong era.

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 in the crypto community.

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 September 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 spat, providing visual evidence of the 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, making serious accusations in a public forum.

Police arrived shortly and questioned him before arresting him. At the time, the disgraced crypto promoter had a firearm and an unnamed female companion in his car, raising additional concerns about the situation's potential danger.

Regarding Armstrong's legal status, he was not incarcerated for an extended period. 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, continuing the ongoing conflict with his former partners.

Always DYOR Regardless Of What An Influencer May Say

BitBoy Crypto's capitalization 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. It also highlights the public's responsibility to conduct due diligence on the projects they want to invest in.

The rise and fall of Ben Armstrong serves as a cautionary tale for cryptocurrency investors. His story demonstrates the importance of independent research and critical thinking when evaluating investment opportunities, regardless of the source's popularity or apparent credibility. Investors should always verify information from multiple sources, understand the potential risks involved, and never invest more than they can afford to lose.

The crypto community has learned valuable lessons from the BitBoy saga. These include the need for transparency in sponsored content, the importance of disclosing conflicts of interest, and the dangers of blindly following influencer recommendations. As the cryptocurrency industry continues to mature, higher standards for content creators and influencers are emerging, with audiences demanding greater accountability and ethical behavior from those who shape public opinion about digital assets.

FAQ

Who is Ben Armstrong (BitBoy Crypto)? What is his background and experience?

Ben Armstrong, known as BitBoy Crypto, is a prominent cryptocurrency YouTuber and entrepreneur born on October 27, 1982. He is an influential figure in the crypto space, known for his content creation and social media presence. Armstrong studied at Kennesaw State University and has become a recognized voice in cryptocurrency education and analysis.

BitBoy Crypto在加密货币社区中的影响力有多大？

BitBoy Crypto自2018年全职投入加密货币领域以来，通过广泛的社交媒体影响力和行业倡导，成为加密社区的重要人物，在推动行业认知和发展方面产生了显著影响。

What controversies has Ben Armstrong been involved in?

Ben Armstrong faced criticism for making aggressive and controversial price predictions in cryptocurrency markets. His bold forecasts and statements have generated significant debate within the crypto community, with some supporters praising his analysis while critics questioned his accuracy and methodology.

What cryptocurrencies and topics does BitBoy Crypto channel focus on?

BitBoy Crypto focuses on cryptocurrency news, project reviews, and trading advice, particularly highlighting Bitcoin and emerging altcoins with market analysis and investment perspectives.

What are Ben Armstrong's views on Bitcoin and other major crypto assets?

Ben Armstrong believes Ethereum will outperform Bitcoin long-term, predicting ETH's market value will exceed BTC by 2025. He maintains bullish positions on major cryptocurrencies while emphasizing Ethereum's superior growth potential.

BitBoy Crypto的粉丝数量和社交媒体影响力如何？

BitBoy Crypto拥有数十万粉丝，在加密货币领域具有显著的社交媒体影响力。其内容每日触及大量受众，是业界知名的加密货币影响者。