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To say that the past few months of bear market purgatory have been hard on the so-called crypto bros would be an understatement of the highest order. Now, with potentially just a few months left till Bitcoin's much-anticipated halving event and the attendant likelihood of a sparkling new bull market, these crypto bros have started to hit the proverbial rock bottom, as starkly illustrated in a bizarre live stream by Ben Armstrong, the ubiquitous face behind the BitBoy YouTube channel.
Back in August, Ben Armstrong was ousted from his own firm, BitBoy Crypto, following reports of internal conflict between Armstrong and his partners, TJ Shedd and Justin Willams. Bear in mind that BitBoy Crypto currently owns a number of brands, including the NFT trading platform Voomio, Bit Boy Academy, the weekly newsletter Crucial Crypto, and a conglomerate of popular radio stations, Hit Network.
After his ouster from BitBoy Crypto, Ben Armstrong had posted an apology video, pegging his recent "crazy" behavior on a cocktail of diet pills and steroids. He also confessed to an extramarital affair, one that further tarnished his repute of a "family man."
The entire insane 37-minute #bitboy stream starting from Carlo's driveway (him on his property) to him ending the stream. @HitNetwork_ @NickDimondi Insane! #crypto @AltcoinDailyio @cryptoblood_ @CryptoSavy1 @atozy pic.twitter.com/3YSd3pRLIm
— Ramekin (@iamramekin) September 26, 2023
This brings us to the core of today's topic. Over the weekend, Ben Armstrong live-streamed an attempt to steal a Lamborghini from one of his former partners. His alleged mistress also assisted him in this attempt at thievery. As can be seen from the video embedded in the above X post, Armstrong appears to be under the influence of drugs, employing the liberal use of expletives. Moreover, he was also carrying a weapon in his car's back seat.
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 aka BitBoy Crypto (@BenArmstrongsX) September 26, 2023
Predictably, Ben Armstrong was arrested for "loitering/prowling" and for "simple assault by placing another in fear." As per his own post on X, Armstrong spent around 8 hours in jail.
BitBoy's Ben has now been released after posting bail for $2,600.
Do you think we will witness other famous crypto bros experiencing a similar burnout as the crypto market continues to move through the frozen hinterlands of the ongoing bear market? Let us know your thoughts in the comments section below.
About the author: Writing is my one incontrovertible passion. Over the past six years, he has authored over 2,200 distinct articles on financial and tech-related topics, spanning nearly 1 million words. And he has been a member of Wcctech mobile team since 2025. As an alumnus of the University of Toronto, Rotman Commerce Program, I bring nuance, in-depth knowledge, and a unique perspective to every topic that I cover. When I'm not writing, I'm traveling the world, exploring hidden confectionaries and restaurants as an aspiring food connoisseur.
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