BitBoy Crypto brand will no longer include YouTuber Ben Armstrong

The genitor of Hit Network, which controls the “BitBoy Crypto" brand, has chopped ties with its nationalist face, Ben Armstrong, citing issues surrounding substance maltreatment and fiscal harm to employees.

In an Aug. 28 announcement connected YouTube and societal media channels, a spokesperson said the institution had reached its determination pursuing efforts to assistance Armstrong “during his relapse into substance abuse,” expressing regret for the extremity of the concern relationship. The steadfast claimed Armstrong had inflicted “emotional, carnal and fiscal damage” connected Hit employees and others successful the space.

Yesterday, BJ Investment Holdings, the genitor institution of Hit network, took decisive ineligible enactment successful removing Ben Armstrong from the company, and specifically the Bitboy Crypto brand. https://t.co/e0kYLKUZ4r

The announcement did not elaborate connected immoderate incidents that whitethorn person led to the extremity of the concern narration with Armstrong. The crypto YouTuber had been progressive successful a class-action suit successful which investors claimed Armstrong and different influencers allegedly promoted FTX without revealing compensation from the exchange.

Amid the lawsuit, tribunal filings suggested Armstrong issued threats against lawyers representing the plaintiffs and openly mocked a national judge’s authority by not appearing successful tribunal arsenic ordered. The lawsuit was stayed connected June 16.

Using his level with much than 1 cardinal followers connected X (formerly Twitter) and YouTube subscribers, Armstrong insulted high-profile figures, including European Central Bank President Christine Lagarde and United States Securities and Exchange Commission Chair Gary Gensler. In August 2022, helium filed a defamation suit against YouTuber Erling Mengshoel Jr., besides known arsenic "Atozy," but dropped the case aft Mengshoel Jr. raised much than $200,000 for his defense.

Related: Former SEC main warns influencers astir prosecution for crypto terms manipulation

Many X and YouTube users reacted with enactment for Armstrong pursuing the Aug. 28 announcement, expressing interest with the aboriginal of the "BitBoy Crypto” marque without its astir recognizable face. Armstrong launched his YouTube transmission successful February 2018, and arsenic of August 2023, the BitBoy Crypto marque had a full societal scope of much than 3.3 cardinal followers. 

It’s unclear if Armstrong’s erstwhile ineligible entanglements whitethorn person contributed to the institution cutting ties with him. Many authorities worldwide person been targeting crypto influencers for promoting allegedly fraudulent projects pursuing the illness of FTX.

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