It's certainly not unprecedented for a company's founder to be summarily ousted from their role inside of that company. In fact, it happens fairly regularly. Such is now apparently the case for Ben Armstrong, the founder of BitBoy Crypto.
News broke in August 2023 that Ben had been ousted from the company in what he's described as a "coup," and his claims have led many to wonder what exactly is going on inside of the company, and how this chaotic story started.
What happened to BitBoy Crypto?
Ben is one of the more prominent cryptocurrency influencers in the world, and he posted on Twitter on Aug. 27, 2023, that he had been ousted by TJ Shedd and Justin Williams.
"This is Ben. TJ Shedd & Justin Williams have attempted a coup at my company. Just confirming what is going around. It’s true. There has been a mutiny at BitBoy Crypto & Hit Network. But it won’t work. They have no leverage. Until they can clone me, I have nothing to worry about," he wrote.
In an email sent out to those affiliated with BitBoy Crypto, they announced Ben's departure. “Effective immediately, Ben Armstrong will no longer be working with Hit Network/BJ Investment Holdings and all subsidiary brands including but not limited to Bitboy Crypto and Around The Blockchain," the email said. "This decision has not been easy. However, after long consideration, we are confident this is the only path forward.”
Why was Ben fired from BitBoy Crypto?
The exact reasons for Ben's firing remain unclear, but that hasn't stopped people from speculating about why he might have been let go.
Some have suggested that Ben's ouster was caused by his recent interest in a number of meme coins, which some have described as "shady."
Others have suggested that the reason for his ouster had more to do with allegations of substance abuse issues, which were reportedly leading to other abusive behaviors directed toward people inside BitBoy Crypto.
Ben had been intentionally provocative in the months leading up to his firing, including one incident where he intentionally chose not to show up for a court date to answer harassment charges that had been made against him by attorney Adam Moskowitz. The harassment case went forward without him.
Moskowitz has claimed that Ben subjected him to “endless phone calls, tweets, and emails,” as well as threatening voicemails and social media posts that suggested threatening behavior.
Moskowitz is also the lawyer in a class-action lawsuit against a group of crypto influencers who encouraged people to invest in FTX, the fraudulent crypto exchange that went bankrupt, taking plenty of regular people's money with it.
Ben's ouster seems to have been the result of a variety of different behaviors, and the YouTube channel that he named will now move forward without him. It seems as though Ben thinks that they'll eventually want him back at BitBoy Crypto, but it's unclear where that confidence is coming from. He may have started the channel, but it seems like they're pretty sure they no longer need him.