The Downfall of Ben Armstrong: When Crypto Fame Becomes a Financial Liability

Ben Armstrong made headlines again, but not in the way he wanted. The once-prominent crypto influencer announced he’s shutting down his daily livestream after three years, citing mounting financial losses and a barrage of legal threats. In an emotional video posted to his YouTube channel, Armstrong revealed the harsh reality behind the scenes: his daily crypto show was hemorrhaging approximately $25,000 per week, while his legal fees alone consumed “about $100,000 a month.” The combination proved unsustainable for even a well-known personality in the cryptocurrency space.

“We’re barely making it out here, guys. We’ve got lawyers coming at me from every angle,” Armstrong said in the 10-minute video that quickly garnered 18,000 views. “Everyone I know is coming after me right now.” The statement underscored just how drastically circumstances had changed for the brash crypto personality.

The Rise and Rapid Decline of a Crypto Celebrity

Ben Armstrong’s journey in the cryptocurrency world reads like a cautionary tale of rapid ascent followed by equally dramatic collapse. Operating under the “Bitboy” persona beginning in 2018, Armstrong built a massive following by producing polished price prediction videos and crypto news content. His headlines promised wild returns—“Make IMPOSSIBLE Gains with Bitcoin SUPERCYCLE”—and the content resonated deeply with retail traders seeking both market guidance and entertainment.

At his peak, Armstrong commanded a loyal audience across the crypto trading community. His channel attracted tens of thousands of viewers per video, and his influence extended into real commercial ventures. In mid-2023, capitalizing on his popularity, Armstrong created his own cryptocurrency token called $BEN coin, attempting to monetize his brand and personal following directly.

However, the token launch marked a turning point. Almost immediately after $BEN coin’s debut, Armstrong was ousted from the “Bitboy” brand following allegations of serious personal misconduct. According to Decrypt, the departure was swift and public. The controversy didn’t end his involvement in crypto—it simply redirected his efforts toward fighting back through legal channels.

When the Lawsuits Started Flying

Following his expulsion from the Bitboy brand, Armstrong filed suit against the company that owned it, initiating what would become a protracted legal battle. But the drama escalated beyond courtroom filings. The crypto community was shocked when details emerged of an affair between Armstrong and the CEO of BEN Coin itself—a revelation made even more sensational by the fact that it was announced during a livestream.

Adding to the chaos, Armstrong was arrested at the home of a former business partner, an incident that also occurred during a livestream, creating the kind of public spectacle that damaged his credibility and reputation further. These personal and professional crises accumulated into a perfect storm of legal liability and financial drain.

The Weekly Burn Rate: Why Influencers Can’t Always Sustain

The economics of Armstrong’s situation reveal a broader challenge facing crypto content creators: the production demands and cost structure of daily programming. Burning $25,000 per week for content that, while popular within a niche segment, could no longer attract enough sponsorship or monetization to break even, meant that continuing was simply not viable.

When combined with legal expenses exceeding six figures monthly, the math became impossible. Few content creators, regardless of their subscriber count, can weather $600,000+ in annual legal bills while simultaneously subsidizing their own productions. Armstrong’s situation demonstrates that even established personalities in crypto operate with thin margins and face existential risks when controversy strikes.

What This Means for the Influencer Economy in Crypto

Ben Armstrong’s exit from daily streaming raises important questions about the sustainability of the crypto influencer model itself. Many content creators in this space build followings on the promise of market insights and trading advice, often leveraging a combination of charisma, technical language, and bold predictions. When personal scandals or legal troubles emerge, the entire business model collapses overnight.

The influencer-to-token pipeline that Armstrong attempted—building an audience first, then launching a personal coin—has been replicated across the crypto space with mixed results. Armstrong’s experience suggests that such ventures carry significant personal and legal risk, particularly when governance structures aren’t clearly defined and ethical boundaries aren’t established.

The Emotional End to a Three-Year Daily Commitment

In his announcement, Armstrong reflected on what the daily grind had 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. I was there with you through it all.” The post carried a genuine sense of loss, suggesting that despite the financial and legal pressures, Armstrong had invested emotionally in the commitment.

His decision to step back represents both a practical business reality and a symbolic moment for Ben Armstrong himself. Whether he reemerges in a different capacity within crypto or pursues endeavors outside the space entirely remains to be seen. What’s clear is that the combination of legal threats, financial unsustainability, and reputational damage proved too much for even a determined crypto personality to overcome.