The Rise and Fall of Bitboy Founder Ben Armstrong

 A recent statement from BJ Investment Holdings announced the dismissal of founder Ben Armstrong. 



“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,” the statement, released on youtube and X said.


“This is a difficult decision. It is 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 and the Bitboy crypto community,” TJ Shedd of Bitboy Crypto said. “The Bitsquad deserves better, and we are going to get through this together.”



“This is a different day. It is a very serious time right now, but it’s shocking for everyone, including myself. I want you to know that if you’re here for some Ben bashing, you’re going to be disappointed. This isn’t that channel,” Bitboy Crypto said.


As the announcement played out in the internet landscape, Armstrong allegedly took to the $BEN account on X and said that a mutiny had taken place.


“This is Ben,” the post said. “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.” Armstrong faces legal trouble for his involvement in FTX and online criticism for his involvement in $BEN coin and supporting other “meme coins.” “I did not create this coin,” Armstrong said on X. “It was created on behalf of a group I’m in called Ben DAO made up of all Bens, and I do own this coin in my portfolio.” A more recent post clarified Armstrong’s involvement in $BEN coin. “$BEN is not owned by @HitNetwork_ or @Bitboy_Crypto, it is managed by a separate entity entirely, controlled exclusively by Ben Armstrong and @DuchessOfDeFi.”

Armstrong received criticism in April when he skipped a court hearing for harassment of lawyer Adam Moskowitz. Armstrong posted a photo of himself at the beach and taunted the court.

“I am supposed to be in court today. I’m not. Why? Because I don’t give AF,” Armstrong posted. Yahoo Finance reported that “according to a court filing Wednesday in the U.S. District Court in the Miami division of the Southern District of Florida, Armstrong has left voicemails with Moskowitz Law that are “full of vulgarities,” including one where Armstrong states, “We’re going to have First Amendment protesters around your house 24/7 day and night.” The filing also states that Armstrong left another message claiming that the “home addresses” of Moskowitz and his colleagues are “being circulated on Reddit.”

There were mixed reactions on social media following the reports of Armstrong’s dismissal. One Reddit thread asked if it was the “End of an Era?”

“Bye-bye ScamBoy, you won't be missed,” Reddit user Mean-Argument3933 said. The $BEN coin spiked 40% following reports of the dismissal of Armstrong but has since continued its decline. “Looks like the $BEN community is rallying behind #BenArmstrong and pumping in spite of what Hit Network did with @Bitboy_Crypto,” Crypto Ken said on X as he shared an image of the chart.

The Bitboy youtube show will continue to run without Armstrong. Follow the Wicksboro Report on X for more crypto news.




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