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Ben Armstrong, Founder of Bitboy Crypto Channel, Released on Bail After Arrest

Armstrong has had an apparent fallout with his former business partners, several tweets suggest.

By Shaurya Malwa|Edited by Parikshit Mishra, Sandali Handagama

Updated Sep 26, 2023, 5:38 p.m. Published Sep 26, 2023, 5:30 a.m.

Crypto influencer Ben Armstrong has been released on bail after he was arrested during the late hours of Monday after an apparent confrontation with his former business partner, part of which was live-streamed on X, formerly Twitter.

An online record at the Gwinnett County Sheriff’s Department site shows one "Benjamin Charles Armstrong" was arrested for "loitering/prowling" and for "simple assault by placing another in fear" with a bond amount of $2,600.

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Armstrong was apparently carrying a gun in the backseat of his car, and was traveling with one other person, a live-stream snippet on X indicated.

BEN tokens, floated by Armstrong earlier this year, dropped 30% as reports of the arrest leaked early on Tuesday.

Armstrong sent a tweet acknowledging the incident.

This is the hardest tweet I ever have had to make. I need to make a confession I never imagined I would admit

I’m not even really sure if I have the courage to say it but I’m going to do my best

Here it goes: My name is Ben and I’m a loiterer. I did 8 whole hours in the slammer
— Ben Armstrong (@BenArmstrongsX) September 26, 2023

Armstrong was previously ousted from his media company, BitBoy Crypto, following a unanimous decision, as per an August announcement, which likely led to Monday’s altercation.

UPDATE (Sept. 26, 07:38 UTC): Updates headline.

UPDATE (Sept. 26, 09:13 UTC): Adds charges and bond amount in second paragraph.

UPDATE (Sept. 26, 11:14 UTC): Updates headline and text with additional info.

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Shaurya Malwa

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.