Bitboy Is Asking Fans For Donations
Ben Armstrong, formally known as Bitboy, has asked his followers for donations to raise funds for his legal defense. The crypto personality has received over $90K on his Ethereum wallet and over $91K on his Bitcoin address, despite receiving backlash from certain on Crypto Twitter.
A Georgia court refused Armstrong's plea for an emergency injunction against Hit Network CEO TJ Shedd and CFO Timothy Shedd Sr. Armstrong is suing the Shedds after he was kicked off Bitboy Crypto, which he claims he controls 67% of. However, the Shedds claim Armstrong assaulted staff physically and sexually. Armstrong is also accused of misusing corporate cash by taking out loans with NFTs owned by the company and moving funds without authorisation, according to Hit Network.
Armstrong, on the other hand, contends that the NFTs were his personal property and that the loans and transfers were undertaken with the full knowledge of the employees. He also claims that Shedd Sr., as CFO, mismanaged funds. Both sides are attempting to obtain restraining orders against one other.
The removal from Bitboy Crypto has reportedly lost Armstrong's YouTube channel 20,000 subscribers and the company $1 million in income. As legal action proceeds, Armstrong stated that he filed a police report in response to threats received, and Hit Network has recruited security in response to the tensions.
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