BitBoy Crypto, an influential cryptocurrency media brand, has severed ties with its founder Ben Armstrong. The company, owned by Hit Network, cited Armstrong’s substance abuse issues and alleged infliction of damage on employees as reasons for the termination of their business relationship.
In an announcement on August 28th, BitBoy Crypto claimed Armstrong had emotionally, physically, and financially harmed some Hit Network employees and others in the crypto space. The announcement did not provide specifics on the alleged incidents.
At the time of the separation, Armstrong had over 1 million Twitter followers and a significant YouTube subscriber base. In total, the BitBoy Crypto brand maintained a social reach of more than 3.3 million followers.
Armstrong has previously become embroiled in controversies, including being named in a class action lawsuit accusing him of promoting FTX without disclosing compensation. He also mocked regulators and filed defamation suits against other crypto YouTubers.
Many of Armstrong’s social media followers reacted with surprise and concern about the future of BitBoy Crypto without its most famous personality. Armstrong launched his YouTube channel in 2018 and grew it into an influential brand in the crypto space.
It’s unclear whether Armstrong’s past legal issues may have played a role in BitBoy Crypto’s decision to cut ties. Crypto promoters have faced increased scrutiny from authorities following FTX’s collapse. For now, the company is distancing itself from its controversial founder despite his massive follower count.
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