BitBoy No More? Ben Armstrong Gets Kicked From BitBoy Crypto

Updated: 29 August 2023

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Today, BitBoy Crypto revealed on Twitter that they’ve cut ties with Ben Armstrong, a high-profile figure in the crypto scene. The announcement mentioned that the decision was enforced by BJ Investment Holdings, which is the parent company of Hit Network. They tweeted, “Yesterday, BJ Investment Holdings, the parent company of Hit Network, took decisive legal action in removing Ben Armstrong from the company.”

Yesterday, BJ Investment Holdings, the parent company of Hit network, took decisive legal action in removing Ben Armstrong from the company, and specifically the Bitboy Crypto brand. https://t.co/e0kYLKUZ4r

— Bitboy Crypto (@Bitboy_Crypto) August 28, 2023

In their tweet, BitBoy Crypto acknowledged that their move was driven by “difficult” reasons. These included unverified personal allegations against Armstrong, which he has yet to confirm. The company indicated that the action was taken to mend the emotional, physical, and financial toll Armstrong allegedly took on the employees of both BitBoy Crypto and Hit Network.

Reconcile the damage Armstrong has done to the employees of Hit Network & the Bitboy Crypto community

TJ Shedd, the CEO of Hit Network, elaborated on the situation during a YouTube livestream this morning. He specified that the removal aims to “help reconcile the emotional, physical and financial damage [Armstrong] has done to the employees of Hit Network & the Bitboy Crypto community.”

For those who might not know, Hit Network is a platform centered around content creation. It partners with various brands to deliver content in realms such as cryptocurrency, entrepreneurship, gaming, music, and sports. According to its official website, BitBoy Crypto is not just a brand under Hit Network but stands as its most popular one.

Ben Armstrong Responds

In response to the announcement, Ben Armstrong reportedly tweeted through the BenCoin Twitter account, 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.

The community’s reaction to the news has been mixed. The YouTube livestream that announced the decision had several viewers who were upset about Armstrong’s exit. Many even called for his return to the company. Meanwhile, a Reddit post titled “End Of An Era? – Ben Armstrong” attracted enthusiastic comments, with one user even asking, “What took so long?”

As for Armstrong, he’s currently facing a class-action lawsuit along with other celebrities for allegedly promoting a now-defunct crypto exchange called FTX. The attorney for the plaintiffs has accused Armstrong of making “daily violent threats” through phone and email after the suit was initiated.