Ben Armstrong, the founder of the popular BitBoy Crypto YouTube channel and a prominent figure in the cryptocurrency world, was recently arrested in Gwinnett County, Georgia. The incident, which unfolded late on Monday night, involved an apparent confrontation with his former business partner, parts of which were live-streamed on X (formerly Twitter).
The Charges and Arrest Details
According to an online record from the Gwinnett County Sheriff’s Department, Armstrong was arrested on charges of “loitering/prowling” and “simple assault by placing another in fear.” He was reportedly found carrying a firearm in the backseat of his car and accompanied by another individual. Armstrong’s bond was set at $2,600, and he was released on bail shortly thereafter.
The arrest follows a series of public and professional disputes. Armstrong had been ousted from his media company, BitBoy Crypto, after a unanimous decision by his former partners in August. The altercation on Monday seems to have stemmed from these tensions.
BEN Token Plummets Amid Fallout
The news of Armstrong’s arrest had an immediate ripple effect on the cryptocurrency market. BEN tokens, a project launched by Armstrong earlier this year, saw a sharp 30% drop as details of the incident surfaced. This significant decline underscores the sensitivity of the crypto market to high-profile events involving its key figures.
Armstrong’s Response
Following his release, Armstrong addressed the incident on X with uncharacteristic humor. “This is the hardest tweet I’ve ever had to make. I need to make a confession I never imagined I would admit… My name is Ben and I’m a loiterer. I did 8 whole hours in the slammer,” he wrote.
The tweet, which blended levity with acknowledgment, drew mixed responses from the crypto community, with some expressing concern about his recent controversies.
A Troubled Time for BitBoy Crypto
Armstrong has been navigating turbulent waters in recent months. His ousting from BitBoy Crypto and subsequent arrest are part of an ongoing fallout with former collaborators. The once primary figure of his media company now faces both personal and professional challenges.
What This Means for the Crypto Community
For cryptocurrency investors and enthusiasts, this incident serves as a reminder of the volatility not just within the market but also among its public-facing influencers. Armstrong’s arrest and BEN token’s price drop highlight the fragile relationship between personal conduct and professional endeavors in the crypto space.
The situation continues to evolve, but one thing is clear: the marriage of celebrity influence and cryptocurrency remains a hotbed of speculation, reaction, and, at times, controversy.
Stay updated as we follow this unfolding story.
