Ben Armstrong Announces End To Daily Crypto Shows, Admits To 'Burning $25,000 A Week'

Ben Armstrong, known in the cryptocurrency world as “Bitboy” has declared an end to his daily livestream. 

What Happened: The decision comes as the show’s production costs soared, becoming unsustainable for Armstrong. On his YouTube channel, he released a video explaining the financial toll the show was taking, saying that he was “burning $25,000 a week” to keep it running and contending with mounting legal fees of approximately “$100,000 a month.”

“We’re barely making it out here, guys. We’ve got lawyers coming at me from every angle.” These comments came during a 10-minute video, which drew 18,000 views by Wednesday evening. “Everyone I know is coming after me right now,” Armstrong added.

In a tweet on X, Armstrong said, "My daily crypto livestream has been my life. We had a good run. 3 years. Every Monday through Friday without rare exception. Holidays. Birthdays. Market crashes. Bull market tops. Epic rants. I was there with you through it all. I'll miss you guys."

Armstrong rose to popularity in 2018. His crypto-related channels featured glossy videos with titles like “Make IMPOSSIBLE Gains with Bitcoin SUPERCYCLE,” which captivated a large audience looking for tips and entertainment. This popularity spurred him to launch his cryptocurrency, $BEN coin, in mid-2023.

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Why It Matters: However, his tenure as the face of “Bitboy” ended abruptly following the launch, when he faced serious personal accusations. The ordeal led to Armstrong suing the brand’s owning entity.

Earlier in September 2023, Armstrong planned to confront an individual named Carlos Diaz in an attempt to "get his Lamborghini back," but the situation quickly escalated into a rage of conspiracy theories before the police intervened.

He took to X to appeal to his followers for assistance in funding his legal campaign to regain control of BitBoy Crypto. 

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Price Action: Bitcoin BTC/USD was trading at $41,961, down 2.26% in the last 24 hours, according to Benzinga Pro.

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