The Downfall of Bitboy: How Ben Armstrong Went from Crypto Influencer to Legal Battleground

Ben Armstrong’s journey from celebrated crypto content creator to financially embattled figure represents one of the industry’s most dramatic reversals. The man behind the “Bitboy” persona, once a dominant force in cryptocurrency influencing, announced in early 2024 that he could no longer sustain his three-year daily livestream operation. The decision came amid mounting legal pressures and unsustainable production costs that were draining hundreds of thousands of dollars monthly.

The Collapse of a Daily Content Empire

Armstrong’s daily show, which had been a cornerstone of his brand since its inception, required approximately $25,000 weekly just to produce—a figure that proved economically untenable without adequate revenue streams. In an emotional video announcement, Armstrong disclosed that legal fees were consuming roughly $100,000 monthly, with lawsuits coming from multiple directions. “We’re barely making it out here,” he explained to his audience. “Everyone I know is coming after me right now.”

This marked the end of what had been a consistent Monday-through-Friday broadcasting schedule spanning over a thousand episodes. Armstrong had built his reputation on delivering price predictions and market analysis with titles like “Make IMPOSSIBLE Gains with Bitcoin SUPERCYCLE,” content that attracted substantial viewership and loyal followers seeking both financial guidance and entertainment.

From Star to Scandal: The Sequence of Events

Armstrong’s troubles intensified following his launch of $BEN coin in mid-2023, a personal cryptocurrency venture that initially seemed like a natural extension of his brand. However, shortly after the token’s debut, Armstrong was ousted from the BitBoy organization itself, with reports citing “serious and personal allegations.” The situation spiraled further when details emerged of an affair between Armstrong and the CEO of the BEN Coin project—revelations that came during a livestreamed arrest at a former business partner’s residence.

These personal and professional crises triggered a cascade of legal actions. Armstrong subsequently sued the company controlling the BitBoy brand, initiating a protracted legal battle that continues to consume his resources and time. The compound effect of defending against multiple lawsuits while attempting to maintain a daily broadcast operation became arithmetically impossible to sustain.

The Broader Industry Implications

Armstrong’s situation reflects broader vulnerabilities within the influencer-driven cryptocurrency ecosystem. When individuals build personal brands around price predictions and market timing, they become exposed to numerous liability vectors—from disgruntled followers, business partners, and regulatory scrutiny. The venture into token launches added another layer of complexity, introducing securities-related legal exposure.

The collapse also underscores the unsustainable economics of daily content production in niche markets. While Armstrong’s daily show commanded dedicated viewership, the overhead costs and legal vulnerabilities created a structural mismatch between revenue potential and operational requirements.

Related Developments in Crypto Finance

The period surrounding Armstrong’s struggles also witnessed broader instability in the cryptocurrency lending sector. Blockfills, a Chicago-based crypto lending platform that processed over $60 billion in trading volume, experienced significant disruptions as market conditions deteriorated. The company’s co-founder, Nicholas Hammer, stepped down as CEO as the platform froze deposits and withdrawals in February 2025, with the firm reportedly seeking a buyer amid industry-wide pressures.

These simultaneous crises across different segments—from influencer operations to institutional lending platforms—highlighted the fragility of business models built on either personal brand loyalty or leverage-dependent finance during market downturns.

What’s Next for Bitboy?

As of early 2024, Armstrong shifted away from daily livestreaming, leaving his long-time audience without their regular content fix. Whether he returns to public cryptocurrency commentary in a different format remains uncertain. His situation serves as a cautionary tale about the risks of rapid scaling in the influencer economy without proper legal and financial infrastructure—particularly within an industry as legally complex and reputation-sensitive as cryptocurrency.