BJ Investments Holdings, the cryptocurrency firm behind cryptocurrency influencer brand BitBoy, has terminated its partnership with Youtuber Ben Armstrong, surprising many in the crypto community.
The sudden split came after signs of problems behind the scenes emerged.The company and Armstrong announced break up independent.
Ben Armstrong Steps Down as BitBoy Host
The dissolution of this major cryptocurrency partnership sparked discussions on social media and cryptocurrency news outlets. Some fans were disappointed, while others speculated about the reason for the breakup, as not many details were provided.
Yesterday, Hit Network’s parent company, BJ Investment Holdings, took decisive legal action to remove Ben Armstrong from the company and specifically from the Bitboy Crypto brand. https://t.co/e0kYLKUZ4r
— Bitboy Crypto (@Bitboy_Crypto) August 28, 2023
The influential YouTube channel has gained a huge audience for making complex cryptocurrency concepts accessible. Their separation has left many wondering what project is next. BitBoy may move to a new style of content, while Armstrong may continue his cryptocurrency commentary.
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It is worth mentioning that Ben Armstrong has previously insulted famous people on his YouTube channel and Channel X, and has more than 1 million followers.Gary Gensler, Chairman, SEC ECB President Christine Lagarde was among the figures he mocked.
Notably, the YouTuber has been embroiled in a crypto lawsuit in which investors accused Armstrong and other influencers of continuously promoting FTX without disclosing any compensation from the exchange.
Legal action against Ben Armstrong
During the proceedings, court documents detailed that Armstrong threatened legal action from attorneys representing the plaintiffs and failed to show up on the day of the trial, mocking the authority of the federal judge. As a result, the case remained pending on 16 June.
Armstrong previously filed a lawsuit against YouTuber “Erling Menshoel Jr.” in August 2022. Dubbed “Artozz,” he claimed he defamed Armstrong’s citations. But after Erling raised $200,000 for his defense, he gave up.
After the announcement on Aug. 28, many X and YouTube users expressed support for Armstrong and expressed concern about 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 total social reach of the BitBoy Crypto brand exceeds 3.3 million followers.
Featured image from Pixabay and chart from TradingView.com