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Ben Armstrong spends night in jail with prowling, simple assault charges

Crypto influencer Ben “BitBoy” Armstrong was released on bail around 8 hours after being booked by Gwinnett County police for loitering and simple assault.

Crypto influencer Ben Armstrong, formerly known as ‘BitBoy,’ reportedly spent the night in the slammer and has been hit with two charges following his conspicuous arrest. 

Armstrong, who was taken into custody on Sept. 25 while livestreaming outside a former associate’s house, spent a little over 8 hours in a cell according to the Gwinnett County, Georgia, Sheriff's Office.

The crypto influencer has been released on bail but has been hit with charges of “loitering/prowling” and “simple assault by placing another in fear,” with a bond amount of $2,600 along with $40 of fees.

Screenshot from Gwinnett County Sheriff's Office

In Georgia, loitering or prowling generally refers to when a person is “in a place at a time or in a manner not usual for law-abiding individuals under circumstances that warrant a justifiable and reasonable alarm or immediate concern for the safety of persons or property in the vicinity,” according to Georgia-based law firm Lawson & Berry. 

The consequences for a prowling and loitering misdemeanor include a fine of up to $1,000, or jail time of up to one year, or both, it added.

Meanwhile, simple assault can involve: “(1) attempt to commit a violent injury to the person of another, or (2) commit an act which places another in reasonable apprehension of immediately receiving a violent injury.”

Similar to loitering, a conviction for simple assault in Georgia is treated as a misdemeanor, though there can be certain situations where this is escalated, said the law firm.

Following his release, Armstrong appeared to mock his punishment stating, “My name is Ben and I’m a loiterer. I did 8 whole hours in the slammer,”

A few hours later he posted: “I’m taking a week's break from social media,” before adding “No, not because of the memes,” on Sept. 27. Armstrong’s mug shot has been doing the rounds on crypto social media.

Related: Ben ‘BitBoy’ Armstrong arrested on livestream over Lambo dispute

On the evening of Sept. 25, Armstrong went to the house of his former associate Carlos Diaz who he alleged had possession of his Lamborghini.

The livestream and general ranting went on for around 19 minutes before the local police turned up and arrested Armstrong.

Crypto trader “EmperorBTC” told his 360,000 X followers that the arrest “should be a lesson for everyone.”

The latest debacle is related to the ongoing dispute between Ben Armstrong and Hit Network which controls the “BitBoy Crypto" brand. The firm and its executives cut ties with Armstrong in August citing issues surrounding substance abuse and financial damage to employees.

Magazine: Get your money back: The weird world of crypto litigation

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Ben ‘BitBoy’ Armstrong arrested on livestream over Lambo dispute

Crypto influencer Ben “BitBoy” Armstrong has reportedly been arrested following a livestream outside the house of Carlos Diaz, a former business partner.

Crypto influencer Ben Armstrong, previously known as “BitBoy,” has reportedly been arrested while livestreaming outside the house of a former business associate, who he alleges is in possession of his Lamborghini.

Before the YouTube stream, he posted that he was “going live soon from a very special location.”

Less than an hour later, Armstrong was livestreaming himself at the residence of consultant and nonfungible token investor Carlos Diaz, who is understood to have links to the Hit Network.

Armstrong went on a tirade, claiming that Diaz “wanted to kill him” and alleging he has links with the Houston mafia.

“I’m not scared of you, Carlos,” he hollered.

At almost 19 minutes into the stream, Armstrong was met with local police, who turned up and asked if Armstrong had a weapon on him, which he denied.

He was then ordered to put down the phone, and the stream goes blank for the remaining 17 minutes, though audio can still be heard of a conversation between Armstrong and the police officers.

According to a listing on the Gwinnett County, Georgia, Sheriff’s Office, a Benjamin Charles Armstrong was booked on Sept. 25 at 9:11 pm local time and remains incarcerated.

Screenshot from Gwinnett County Sheriff’s Office.

On Sept. 26, Diaz posted a confirmation that Armstrong had turned up at his house.

Blockchain sleuth "ZachXBT", who is not a fan, said "Will always celebrate one of the most notorious bad actors in crypto finally getting karma."

Related: BitBoy Crypto brand will no longer include YouTuber Ben Armstrong

In late August, Hit Network, which controls the “BitBoy Crypto” brand, cut ties with its public face, Ben Armstrong, citing issues surrounding substance abuse and financial damage to employees.

Since then, a couple of lawsuits have been filed and retracted by various parties involved. Armstrong even appealed for donations on Sept. 20 to cover his legal battles, which riled the crypto community.

Magazine: Get your money back: The weird world of crypto litigation

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DeGods and Y00ts NFTs are bridging off Solana. Here’s why

The migration of Solana's top two NFT projects to Polygon and Ethereum is set for the first quarter of 2023 on an opt-in basis.

Nonfungible token (NFT) firm Dust Labs is migrating its two top-performing Solana NFT projects — DeGods and y00ts — onto Ethereum and Polygon in a bid to expand their adoption. 

The news was announced on DeGods and y00ts Twitter page on Dec. 25, with both NFT projects expected to be officially bridged onto Ethereum and Polygon respectively in the first quarter of 2023.

Rohun Vora — the creator of DeGods and y00ts who is known by the alias Frank III — said the decision was made to “explore new opportunities” and to allow for the continued growth of the collection. The move will also see the DUST token — used to buy, sell and mint NFTs on the DeGods ecosystem — also be bridged onto Ethereum and Polygon.

Vora confirmed that two NFT projects will still remain on Solana for the time being, and in a separate post responding to a Twitter user, confirmed that the bridge/migration will be owner "opt-in."

During a Dec. 26 Twitter spaces, Vora explained to 66,000 listeners that it was simply a matter of getting the NFT projects on the platforms that he sees will drive the next wave of NFT adoption.

In his reasoning, he made parallels to the intense battle for intellectual property (IP) between streaming services such as Netflix, Disney Plus and HBO Max — suggesting that the streaming service that secures the best IP will ultimately win the lion’s share of viewers, which then attracts better projects.

“They’re trying to get the best IP on their streaming services because that IP is ultimately going to drive the growth on that platform.”

“Once you get enough IP on the platform it becomes a virtuous cycle, people want to be on Netflix because that’s just the brand and the place to be,” he added.

He said a similar battle is playing out between different blockchains that are trying to build the best NFT platforms, noting that as NFTs are driven by attention, there is an opportunity for “virtuous cycles” that would create a network effect for NFT projects.

From there, “the metrics, the volume and the liquidity will follow that,” he added.

Vora said his bullish view on Polygon for NFTs was influenced by the fact that Disney, Adidas, Nike and Reddit chose Polygon as their NFT platform of choice.

Vora also said that he had received grant offers from many other platforms, most of which were much larger than what was offered by Polygon, but Polygon provided y00ts with the best opportunities moving forward.

“Polygon by far was one of the lowest, if not the lowest in terms of dollar value, but we went with Polygon because we see a lot of opportunity on a strategic level and that’s what excites me and should excite you holders more than anything.”

Related: Solana TVL drops by almost one-third as FTX turmoil rocks ecosystem: Finance Redefined

The news has only added to the growing list of concerns for Solana, which has seen the total value locked (TVL) on the ecosystem fall 97.88% from a peak of $10.17 billion to $215M at the time of writing, according to decentralized finance data aggregator DefiLlama.

Solana co-founder Anatoly Yakovenko shared his “bittersweet” feeling on the news that the NFT projects would no longer “100% focus on Solana” to his 223,600 Twitter followers on Dec. 26, but accepted the “reality” that these projects want to expand their reach.

But controversial figure Ben “Bitboy” Armstrong and a fair share of his 1 million Twitter followers weren’t so optimistic on Solana’s future, with 70% of 11,881 voters in a poll voting “Yes” to “Is Solana dead.”

According to DappRadar, both the y00ts and DeGods NFT collections are ranked first and second in  terms of fiat transaction volume on Solana over the last 30 days.

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Crypto Influencer Bitboy Flies to the Bahamas to Question Former FTX Exec Sam Bankman-Fried

Crypto Influencer Bitboy Flies to the Bahamas to Question Former FTX Exec Sam Bankman-FriedIt’s been 16 days since FTX filed for Chapter 11 bankruptcy protection in the U.S. and the former FTX CEO Sam Bankman-Fried (SBF) is allegedly still hunkering down at his seaside resort in the Bahamas. This weekend, the Youtuber known as Bitboy decided to fly down to Nassau in order to question SBF about the […]

Dubai Defies Nature’s Fury: Global AI and Blockchain Shows Shine Through Adverse Weather

‘Atozy you’ve won’ — Bitboy drops lawsuit after $200K defense raised

“So we are gonna drop the lawsuit, 100% and I'm sorry this became public,” said Ben Armstrong.

Ben Armstrong, the man behind Bitboy Crypto said that he is dropping the defamation suit against fellow Youtube content creator Erling Mengshoel Jr., who goes by the name Atozy.

Armstrong officially filed the suit against Mengshoel Jr. on Aug. 12 in response to a Nov 2021 video titled “This YouTuber scams his fans… Bitboy Crypto” which alleged that Armstrong was dishonestly promoting dubious assets to his audience such as PAMP for his own gain. He was seeking $75,000 in damages over the ordeal.

However, Armstrong suggested in a Aug. 24 live stream that he is now walking back the complaint after Mengshoel Jr. managed to raise more than $200,000 for his defence.

The crypto YouTuber outlined that he initially filed the complaint with the aim to get Mengshoel Jr. to take the video down, and suggested that he didn’t want to actually go through with the court proceedings.

However, Armstrong explained that as Atozy now has enough to cover legal costs, and with prominent crypto trader/podcasters such as Cobie (Jordan Fish) donating $100,000 to the cause, the dispute has gone further than he initially intended.

“So we are gonna drop the lawsuit, 100% and I'm sorry this became public, I'm sorry that this has been misconstrued, but I just want you guys to understand why I was doing this. This was not about a slapstick lawsuit.”

“When someone implies that you could be in trouble from the SEC, that is not frivolous guys, that's a very serious matter. And so from my perspective, trying to defend my reputation, trying to get him to remove the video that literally has wrong information in it, that was all I wanted,” he added. 

At the time of writing, Atozy’s video is still up and has nearly 190,000 views. In the Bitboy livestream, Armstrong pleaded with Mengshoel Jr. to at least edit parts of the video which he has taken umbrage over. Ultimately however, Armstrong noted that Atozy has “won.”

Commenting on the matter, Atozy states that all is yet to be resolved, as he is still waiting for the official confirmation from his lawyer that the complaint has been dismissed with “prejudice.”

“I'm told by my lawyer that if it is not with prejudice he can refile at any time,” he wrote, adding that once the official confirmation has come through, he will refund all the money to everyone that donated to the cause.

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BitBoy Crypto sues fellow YouTuber Atozy for defamation over shilling claims

Cryptocurrency YouTuber Bitboy Crypto has filed a defamation lawsuit against another prominent content creator on the platform.

Two prominent YouTube content creators are set to lock horns in a legal battle over a cryptocurrency video allegedly promoting a project that ended up being a scam.

Bitboy Crypto, a YouTube channel founded by Ben Armstrong, produces a variety of content focused on cryptocurrency news, projects and tokens and trading advice. The channel has been active since February 2018 and has over 1.4 million subscribers.

The channel is known for its news pieces and trading-focused videos with headlines like ‘Top 3 Coins To Outperform Ethereum! (Strong Short Term Play)’ typifying the type of content disseminated to viewers.

While these videos purport to offer trading advice, the channel has a disclaimer clearly stating that Armstrong is not ‘a professional advisor in business areas involving finance, cryptocurrency, taxation, securities and commodities trading, or the practice of law.’ The channel’s content states that it is meant for general information purposes only.

Bitboy Crypto has copped criticism from the wider cryptocurrency community in the past for allegedly misleading viewers about various tokens and projects. Armstrong has attempted to rebut these claims, with a prime example being a fiery podcast conversation hosted by cryptocurrency investor Anthony Pompliano in November 2021.

Related: BitBoy founder threatens class action lawsuit against Celsius

An incident involving comments posted by another YouTuber on a BitBoy video from 2020 has led Armstrong to seek legal recourse. Erling Mengshoel Jr, better known by his YouTube channel name Atozy, came across a now-deleted video on the Bitboy channel promoting a project called Pamp network token in 2020.

The project ended on a sour note as investors were left empty-handed after a reported 'rug-pull' from the founders. As per data from Coingecko, PAMP tokens are worth fractions of a dollar, down from all-time highs of $2.73 in July 2020. 

In the wake of the PAMP failure, Atozy revisited the Bitboy video to post comments labeling Armstrong as ‘shady’ for misleading viewers. Atozy went on to create a full video on his channel in November 2021 titled ‘This YouTuber scams his fans… Bitboy Crypto’, alleging that Armstrong had been dishonest as a self-proclaimed expert on cryptocurrencies to promote a project that ended up crashing.

Armstrong officially filed a federal complaint against Mengshoel on Aug. 12 in the U.S. District Court for the Northern District of Georgia, Atlanta, with a raft of claims, including defamation, infliction of emotional distress and tortious interference with business relations or potential business relations.

Mengshoel was eventually served at his home a few days later and has called for the assistance of viewers and the cryptocurrency community to tackle what he described as a 'frivolous' lawsuit from Armstrong.

Mengshoel has since launched a GoFundMe account to meet the lawsuit head-on, with Armstrong claiming damages and legal fees worth $75,000. GoFundMe has received over $20,000 in the 24 hours since its launch, with over 450 contributors to date.

Cointelegraph has reached out to both parties for comment on proceedings and will update this article accordingly.

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BitBoy founder threatens class action lawsuit against Celsius

BitBoy Crypto founder Ben Armstrong said that Celsius won’t let him withdraw money from the platform without sending more money to it first.

Just two weeks after appearing in an ask me anything (AMA) with Celsius founder Alex Mashinsky, crypto Youtuber Ben Armstrong has announced he intends to file a class action lawsuit against the lending platform and its chief executive.

Armstrong made legal threats via Twitter on June 15, and has since provided more detail in multiple threads. His issue is centered on being unable to pay down loans with existing funds on the platform, and instead having to deposit new funds to pay the loans off:

“[Our account rep] told us we had enough money in our account to pay off a loan. But we can’t use money in our account. We HAVE TO SEND CELSIUS MORE MONEY TO PAY IT OFF.”

“Imagine an insolvent company that you can’t withdraw your money from ASKING YOU TO SEND THEM MORE MONEY,” he added.

Armstrong stated that he is currently working through the process of getting all “disclosures, documents, loan details, etc” put together while speaking to attorneys to explore the best ways to go about the class action. Co-plaintiffs are yet to be added as Armstrong hasn’t “officially began moving” yet.

BitBoy Crypto is the second most subscribed crypto YouTube account with roughly 1.45 million subscribers and primarily provides commentary on market news/events. The channel is only behind Coin Bureau and its 2.07 million subscribers, although BitBoy Crypto has plenty of detractors too, some of whom allege that he has been paid to promote dubious crypto assets in the past.

Armstrong’s sentiments towards Celsius have swung wildly from just two weeks ago, when he was featured on the  ask me anything (AMA) session with Mashinsky on Celsius’ YouTube channel.

And today I’m the victim. Kicking myself for wondering how I let this get so bad and so far,” he said.

Celsius is battling either insolvency or it's experiencing severe liquidity troubles as a result of the crypto market plunge. The firm paused withdrawals on June 13, and also reportedly shifted around $320 million worth of assets to pay down loans and avoid liquidation on decentralized finance (DeFi) platforms such as AAVE.

One issue to a potential lawsuit however, is if Celsius files for bankruptcy it will trigger a provision called “automatic stay”, which would prevent creditors from pursuing collection activity against the firm.

Celsius has reportedly onboarded restructuring lawyers from Akin Gump Strauss Hauer & Feld to find potential solutions for its financial troubles, however Armstrong claims that these types of lawyers “specialize in MOSTLY preparing companies for bankruptcy.”

“Even if Celsius does file bankruptcy, we have discovered some potential workarounds to still do a class action lawsuit (not effected by bankruptcy). Unfortunately I have to keep that one close to the vest for now,” he said.

Related: DeFi contagion fears and rumors of Celsius and 3AC insolvency could weigh on NEXO price

In terms of recouping funds from Celsius, there does at least appear to be a potential option for users with less than $25,000 on the platform to obtain their assets in the immediate future. Joshua Browder, the founder of robot lawyer DoNotPay tweeted a step-by-step strategy on June 15 on how users might be able to get funds back:

“As of right now, these exchanges have not yet filed for bankruptcy protection. Therefore, they are subject to small claims court judgements. Small claims court cases typically take 1-2 months. As long as this drags on longer than that, this strategy will work.”

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Crypto Trader Ben Armstrong Says $47,000 Is Must-Hold Level for Bitcoin – Here’s Why

Crypto trader and influencer Ben Armstrong is explaining why it is crucial for Bitcoin to hold the $47,000 level. In a new video, Armstrong tells his 849,000 subscribers that if Bitcoin, which is hovering around $52,000 at time of writing, moves below the $47,000 range, it will be a significant level to have lost considering […]

The post Crypto Trader Ben Armstrong Says $47,000 Is Must-Hold Level for Bitcoin – Here’s Why appeared first on The Daily Hodl.

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Here’s The Most Underrated New NFT Gem, According to Crypto Trader Ben Armstrong

Crypto influencer Ben Armstrong is naming what he says is the most underrated non-fungible token (NFT) asset in the space. In a new video, Armstrong shines a spotlight on Ecomi (OMI), a project that he believes will grow immensely as demand surges for NFTs – the unique assets that use crypto technology to essentially provide […]

The post Here’s The Most Underrated New NFT Gem, According to Crypto Trader Ben Armstrong appeared first on The Daily Hodl.

Dubai Defies Nature’s Fury: Global AI and Blockchain Shows Shine Through Adverse Weather