Business News Report
September 01, 2023

Crypto YouTuber Ben Armstrong Breaks Silence in Tearful Apology Video Post-Ousting

Today, the popular crypto YouTube channel BitBoy Crypto published a tearful apology from its founder Ben Armstrong, aka BitBoy.

This follows Armstrong’s removal from BitBoy Crypto on Monday. The brand’s parent company BJ Investment Holdings cited Armstrong’s relapse into substance abuse issues as one of the reasons for ousting him from the company.

The video was prefaced by a message from TJ Shedd, the CEO of BitBoy Crypto and HIT Network, the media company behind the YouTube channel.

“While this video does not address all of the issues that led to Ben’s removal, we believe it does shed some light on some of those issues,” Shedd said.

In the video, Armstrong apologized to his community, dubbed BitSquad. Addressing substance abuse allegations, Armstrong clarified that he hadn’t used cocaine or meth but had taken steroids and diet pills for fitness.

“I guess I was acting crazier than I thought I was, and these things were affecting me more than I thought they were,” he said.

He also admitted to having an affair, known within the BitBoy community and among his company’s employees. His affair carried on for a while despite building his brand as a family man.

With his wife by his side in the video, Armstrong said that they are staying together despite the affair.

“I love him so much and all couples go through hard times. I believe in redemption and I believe in hope. Ben and I, we’ve invested too much in our relationship for either one of us to walk away,” Bethany Armstrong said. “We are committed to making us a priority and coming out a lot stronger as a couple and ultimately as a family.”

Following his exit from BitBoy Crypto, Armstrong alleged that TJ Shedd and Voomio CEO Justin Williams “attempted a coup” at his company but “it won’t work.” 

However, Armstrong conceded in the apology video that he structured his company in a way that didn’t give him total control over it.

Furthermore, he expressed his willingness to cooperate with the HIT Network team to secure the ongoing operation of the BitBoy Crypto channel and the associated brands, even though he felt caught off guard by the confrontation regarding his substance use and infidelity.

Despite not having spoken to most of his former employees, he credited the dedicated team for the success of HIT Network’s brands, including Voomio, Bit Boy Academy, and Crucial Crypto.

The video has since garnered close to 3,000 comments, with most viewers expressing sympathy and support. Despite Armstrong having his share of critics and detractors, the outpouring of support shows an enduring bond between him and his followers. 

It’s unclear how this chapter in BitBoy Crypto’s history will unfold, but Armstrong has made a commitment to fight for a return to his position within the brand.

Disclaimer

Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.


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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing.Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing.Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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