Insider news unveiled a divergence between Ben Armstrong and his brainchild, BitBoy Crypto. This development instigated questions within the cryptocurrency industry over who would step into Armstrong’s shoes considering the polarizing character he had become: an influential trading advisor and, paradoxically, one of the most criticized figures.
The farewell of a divisive figure like Armstrong has elicited interests, especially from those whose perspective painted him as a figure embodying the negative side of hype-fueled cryptocurrency markets and technology. As a result, the ongoing upheaval around BitBoy’s legacy doesn’t seem to be concluding anytime soon, considering Armstrong has resorted to alternative social media avenues to voice his sentiments regarding his estrangement.
Armstrong in his tweet, drew attention to a concerted effort from his team that led to his removal from the channel he created, a notion that some popular cryptocurrency figures, like Wendy O, seem to concur with. It’s suggested that Mirroring Armstrong’s shock of his separation from BitBoy Crypto, many consider his response just another media ruse from a person notorious for polarization within the industry.
The intrigue around Armstrong’s perplexing distance from BitBoy has only thickened the plot. Rumours link Armstrong’s removal to a potential violation and non-disclosure of paid promotions, paying similarities to incidences that followed personalities such as Kim Kardashian.
While Armstrong’s trading tips and affiliations with numerous projects have been scrutinized, the credibility of these ventures is heavily suspect. Some have seemingly ended disastrously, shedding light on the potential risks always accompanying such endeavors, damaging the market’s ethos.
Moreover, Armstrong’s recent promotion of his token, $BEN, has further garnered unwelcome attention due to its poor performance, despite the intention of helping bridge crypto literacy. However, the irony of Armstrong’s venture aiming to curb paid promotions, which were part of Armstrong’s controversial reputation, isn’t lost among observers.
Contributing to the severed tie was Armstrong’s struggle with substance abuse, as claimed by his former employer Hit Network. This reason draws attention to long-standing concerns over Armstrong’s sobriety and its alleged detrimental influence on both his employees and the BitBoy Crypto community.
The Armstrong saga brings forward a fundamental paradox within the crypto industry. While Armstrong is a self-proclaimed champion for ‘the everyman’ against greed in crypto, he is simultaneously under fire for promoting dubious investments and accused of fostering harmful business behaviors. His undying belief in blockchain seems to be overshadowed by his alleged pay-to-play operation within BitBoy.
Despite widespread skepticism and backlash, Armstrong’s follower base remains strong. His early access to obscure, high-risk cryptocurrencies might often have resulted in his followers becoming exit liquidity. Nevertheless, his digital reputation precedes him, making it possible for Armstrong, under a new moniker, to replicate his previous success.
Crypto’s ethos strongly champions personal freedom and eradicates gatekeeping from tech billionaires and central corporations. Blockchain, essentially, ensures ownership of social media profiles and other digital assets. So, before dumping BitBoy and celebrating, it would be useful to ask: “Do we understand what crypto is?”
Source: Coindesk
