Mutiny at ‘Bitboy’ Crypto? Everything You Need to Know About the ‘Coup’

Ben Armstrong – the face of ‘Bitboy’ crypto – has been a scandalous figure in the industry. From endorsing high-risk investments to accusations of dumping tokens after promoting them to millions of his followers, as well as engaging in sketchy meme coins, several reasons have been speculated as the parent of Hit Network, which controls the “Bitboy Crypto” brand, has cut ties with Armstrong.

However, the brand said the “prolonged effort” to help Armstrong during his relapse into substance abuse as well as reconcile the emotional, physical, and financial damage allegedly caused to the employees of Hit network and the Bitboy Crypto community is the reason for his departure.

Bitboy Crypto Parts Ways With Ben Armstrong

Bitboy took to X (formerly Twitter) to reveal that BJ Investment Holdings, which happens to be the parent company of Hit Network, took decisive legal measures to expel Armstrong. However, the company did not provide any specific details regarding any events that might have precipitated the termination of their business affiliation.

“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 BitSquad deserves better and we are 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.”

While certain community members have voiced apprehensions about the future of the “Bitboy Crypto” brand in the absence of its frontman, others hold a different perspective.

Bitboy crypto fired from Bitboy crypto. Now he just called boy. pic.twitter.com/wwJYBVR2sa

— Jason A. Williams (@GoingParabolic) August 28, 2023

Armstrong’s reputation hasn’t been particularly positive either. He even openly disregarded a federal judge’s authority by failing to appear in court as instructed and gloated about his decision to skip court session by posting a picture of himself online on a beach, saying he “don’t give af.” He was later referred to the Federal Bureau of Investigation (FBI) surrounding his promotion of the now-defunct crypto exchange FTX.

Response

Despite the drama at Bitboy Crypto, Armstrong appears to be optimistic about his own venture, but not before criticizing TJ Shedd & Justin Williams for allegedly attempting a coup at his company. Here’s what he had to say regarding the affair,

“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 fate of Armstrong-backed crypto, BEN, has lost over 43% amid heightened scrutiny and speculations..