Known for his bold persona and signature green Gucci tracksuits, Ben Armstrong, famously dubbed BitBoy, was a towering figure on YouTube's cryptocurrency stage. Garnering a massive following by preaching the gospel of crypto riches, he amassed over a million subscribers.
But today his empire lies in ruins Facing financial ruin, losing his job, and a looming divorce, Armstrong points fingers at alleged enemies, yet the lawsuits paint a starkly different picture of him as the antagonist.
TLDR
- Formerly a prominent YouTube crypto advocate, Armstrong, famous as BitBoy, was a vocal proponent of the world of digital money.
- Although he boasted a net worth of $40 million in crypto assets, today he stands nearly penniless and devoid of corporate involvement.
- Following accusations of infidelity and financial betrayal—involving misappropriating his company's resources—his wife sought divorce proceedings.
- Faced with lawsuits, Armstrong is accused of workplace misconduct, sexual harassment, illicit steroid use, and exhibiting aggressive behavior towards staff with protein shake bottles.
- Armstrong insists he has been ensnared by a 'criminal conspiracy' and 'terrorists' who wrested control of his YouTube channel from him.
Starting as a reclaimed meth addict, Armstrong redirected his life by championing cryptocurrencies. His channel flourished during the pandemic, enticing masses of bored novices to gamble their savings based on BitBoy's counsel. meme coins With BitBoy's urgings, viewers bought into the crypto craze. The subsequent boom allowed him to invest in a polished studio, expand his team, all while parading around in a $350,000 silver Lamborghini.
Success seemed to turn Armstrong into a caricature—a Lamborghini-obsessed embodiment of crypto culture—while engaging in a scandalous relationship with Cassandra Wolfe, coined the 'Duchess of DeFi', implicating him in diverting significant funds to her monthly.
Ben Armstrong Crypto X is powered by… pic.twitter.com/10Ljg0trSj
— Ben Armstrong (@BenArmstrongsX) February 3, 2024
In a dramatic turn in August 2022, Armstrong's partner, T.J. Shedd, invoked a legal provision to seize their company, HIT Network, accusing Armstrong of moving funds and NFTs to support Wolfe. Employees revealed Armstrong's alleged physical and sexual misconduct, alongside steroid abuse, which Armstrong denies, yet the drama unfurled spectacularly.
Attempts to reinvigorate his YouTube platform floundered, leading to dismal viewership. By October 2022, his marriage had crumbled. As the crypto market tanked, Armstrong faced severe financial losses. In December 2022, a court ruling ended unfavorably for him in a lawsuit against Carlos Diaz, a fan he accused of extorting his Lamborghini—the judge found no evidence of Armstrong's ownership.
Today, BitBoy—formerly an unassailable icon—clings to conspiracy narratives online, vowing a return amid the ruins of shattered laws, relationships, and partnerships.
Armstrong's journey mirrors the wider narrative of crypto's evolution—from a beacon of potential prosperity and autonomy to a cautionary tale of ambition tainted by avarice, duplicity, and personal downfall. For many, including Armstrong and Shedd, the dream dissolved into a jarring reality of accusation and regret.
