When Ben Armstrong's Bitboy Crypto Empire Crumbled: The Price of High-Profile Influence

In early 2024, crypto influencer Ben Armstrong made a difficult announcement that shocked many in the digital assets community. The personality who had built a substantial following through his daily livestreams—a three-year commitment that saw him broadcasting every Monday through Friday to thousands of viewers—decided to step away. Armstrong, better known by his online moniker Bitboy, revealed that maintaining the daily content had become financially unsustainable. The livestreams were hemorrhaging $25,000 weekly, while legal fees had ballooned to approximately $100,000 monthly. “We’re barely making it out here, guys. We’ve got lawyers coming at me from every angle,” Armstrong said in an emotional 10-minute video posted to his personal YouTube channel. “Everyone I know is coming after me right now.”

From Viral Success to Legal Turmoil: The Rise and Fall of Bitboy

The story of Ben Armstrong’s downfall is both dramatic and emblematic of risks lurking within the crypto influencer space. Beginning in 2018, Armstrong emerged as a polarizing figure in cryptocurrency trading communities. His channel became known for flashy price predictions and crypto news videos with provocative headlines like “Make IMPOSSIBLE Gains with Bitcoin SUPERCYCLE”—content that attracted tens of thousands of engaged viewers seeking trading tips and entertainment. His polished production quality and confident presentation style resonated with a specific segment of the trading public, establishing Bitboy as a trusted voice for many retail investors navigating the volatile world of digital assets.

This success led Armstrong to take the next logical step: launching his own cryptocurrency token. In mid-2023, he created $BEN coin, positioning himself not just as a commentator but as an active participant in the crypto economy. However, the launch of this personal token became a turning point. Shortly after BEN coin’s debut, Armstrong was abruptly ousted from the BitBoy brand over what was publicly described as “serious and personal allegations.” The split triggered a series of increasingly chaotic public events. Armstrong subsequently sued the company controlling the BitBoy brand, initiating what would become a prolonged and costly legal battle.

The Unraveling: A Cascade of Controversies

The months that followed Armstrong’s removal from BitBoy saw an unprecedented series of crises. Details emerged about Armstrong’s involvement in an affair with the CEO of BEN Coin—a scandal that might have remained private in previous eras but became public spectacle in the age of social media and live streaming. Adding to the tumult, Armstrong was arrested at the home of a former business partner. Remarkably, both events were captured on a livestream, transforming personal and legal troubles into digital content viewed by thousands.

These mounting pressures, combined with ongoing litigation, created an increasingly dire financial situation. By 2024, the costs had become prohibitive. The daily livestream operation required significant resources to maintain its production standards, yet the income could no longer cover the mounting expenses—particularly the legal defense fees that seemed to multiply as new cases emerged.

When the Money Runs Out: Why Daily Streaming Became Impossible

Armstrong’s announcement was accompanied by a poignant acknowledgment of what the daily show meant to him: “My daily crypto livestream has been my life. We had a good run. 3 years. Every Monday through Friday without rare exception. Holidays. Birthdays. Market crashes. Bull market tops. Epic rants. I was there with you through it all.” Yet the financial mathematics were unforgiving. With $25,000 draining away each week and $100,000 disappearing monthly toward legal bills, the platform had become a luxury Armstrong could no longer afford. The decision to halt daily broadcasts represented not just a business pivot but a personal reckoning with the consequences of high-profile involvement in an industry often defined by scandal and legal turbulence.

Industry Parallels: The Broader Crypto Reckoning

Armstrong’s struggles are not isolated incidents. The broader crypto landscape has experienced a series of implosions involving prominent figures and platforms. In a related development during the same period, Blockfills—a Chicago-based crypto lending platform that had handled over $60 billion in trading volume in 2025—found itself in crisis. The platform’s co-founder Nicholas Hammer stepped down as CEO, and the company faced a liquidity crisis severe enough to freeze deposits and withdrawals by February 2025. Industry sources indicated that certain clients had been advised to withdraw assets before the freeze took effect. The platform, like many others during market downturns, reportedly began seeking potential buyers.

These parallel collapses illustrate a common pattern: the crypto industry’s young infrastructure remains vulnerable to both market cycles and individual misconduct. Whether through legal entanglement, personal scandal, or operational failure, high-profile figures and platforms can crumble quickly when crisis strikes.

Reflections on Ben Armstrong’s Legacy

Ben Armstrong’s exit from daily content creation marks the end of a notable chapter in crypto influencer history. His journey from successful, high-profile commentator to legally embattled personality sidelined by financial pressure offers uncomfortable lessons about the risks inherent in this space. For his followers, the decision to step back means losing a daily touchstone for market updates and entertainment. For the broader industry, it’s another reminder that even influential voices can be brought down by accumulated legal and financial pressures that outpace earnings.

What remains uncertain is whether Armstrong will find a path forward in the crypto space or whether his story will serve as a cautionary tale for aspiring influencers contemplating high-profile ventures in an industry known for volatility—both in prices and in fortunes.