BitBoy Brand Owners Dump Ben Armstrong For “Substance Abuse” And More
BJ Investment Holdings, which owns the BitBoy Crypto Brand, has announced that it has removed Ben Armstrong from the company and the brand, citing substance abuse issues as the reason.
The BitBoy Crypto Brand is one of the most popular and influential sources of cryptocurrency news and analysis on the internet. The brand was founded by Ben Armstrong, who is also known as BitBoy, a charismatic and outspoken personality who has amassed millions of followers across various platforms.
The news came via YouTube in a video titled "MAJOR Announcement! (Bitcoin & Crypto Market Update)" that was posted on the official BitBoy Crypto YouTube channel, which has over 1.4 million subscribers. In it, a spokesperson for BJ Investment Holdings explained the situation and apologized to the fans and supporters of BitBoy Crypto.
The company says the situation was difficult but it took decisive legal action in removing Ben Armstrong from the company and specifically the BitBoy Crypto brand. It says the move was a "culmination of a prolonged effort to help Ben during his relapse into substance abuse as well as reconcile the emotional, physical and financial damage he has done to the employees of Hit Network (a subsidary of BJ Investment Holdings) and the BitBoy Crypto community."
Ben Armstrong Responds
In a posting on the Twitter feed of Join Ben Coin.com, Armstrong confirmed the news, saying "This is Ben. TJ Shedd & Justin Williams have attempted a coup at my company. Just confirming what is going around. It’s true. There has been a mutiny at BitBoy Crypto & Hit Network. But it won’t work. They have no leverage. Until they can clone me, I have nothing to worry about."
Despite Armstrong’s response the BitBoy Cryto spokesperson says the company would keep the brand going. "The Bit Squad deserves better and we’re going to get through this together. We wish him the best and regret that it has come to this and are hopeful for the future of BitBoy Crypto. Hit Network is committed to empowering creators and we will continue to do that every day."
Armstrong’s unceremonious dumping culminates a difficult 12 months in which he has been sued as part of a class action in relation to his endorsement of the FTT token, and a high profile legal stoush with YouTube influencer Erling Mengshoel (Atozy) related to defamation.
Despite Hit Network’s desire to keep the channel going, initial reaction to the move from subscribers was mostly negative, with hundreds of comments on the live feed expressing support for Armstrong.
Responses to Armstrong’s Tweet were far from uniformily positive, however, with many questioning his credibility and also raising questions about the future of Armstrong’s BEN coin project.
Despite his assurances that BEN was not part of the Hit Network and was exclusively controlled by him and Cassandra Wolfe, the token dumped almost half its value in the 24 hours since the removal of Armstrong.
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