BitBoy Ben Armstrong Celebrates SBF’s Verdict Despite Dropped FTX Endorsement Lawsuit

Published November 3, 2023 2:07 PM

By Teuta Franjkovic

Edited by Giuseppe Ciccomascolo

Armstrong has long opposed Bankman-Fried

Key Takeaways

Ben Armstrong said “drama concluded” after Bankman-Fried was found guilty of all charges.
Armstrong labeled FTX as a “scam” right from the start.
The Armstrong-SBF feud exemplifies personality overshadowing substance in crypto.

Controversial BitBoy Crypto founder Ben Armstrong said “drama concluded” after Sam Bankman-Fried, the founder of FTX, has been declared guilty on all seven charges related to fraud, conspiracy, and money laundering.

Armstrong claims he knew it all along that SBF was “fake”, and, as strange as it may sound, he isn’t lying.

Armstrong Calls FTX a “Scam”

After the trial, Armstrong weighed in on the FTX bankruptcy saying Sam Bankman-Fried’s FTX was “a scam from day one.”

Tomorrow is going to be an epic livestream. A big day for me as the SBF Drama concludes.

Barely over a year ago I ranted about SBF on a livestream. And man look at all that has happened since.

A lot to reflect on.

— Ben Armstrong aka BitBoy Crypto (@BenArmstrongsX) November 3, 2023

Several days following FTX’s Chapter 11 bankruptcy filing in the United States, Sam Bankman-Fried (SBF) was found to be staying at his beachside resort in the Bahamas.

Ben Armstrong subsequently made the decision to travel to Nassau to inquire about the circumstances surrounding the FTX collapse. That visit has drawn considerable attention from the cryptocurrency community, with many on social media closely following Bitboy’s quest to locate SBF on the island.

Remember when Bitboy flew to the Bahamas to chase SBF around?

Feels like a lifetime ago. pic.twitter.com/PkXwtT3hQB

— Tyler (@TylerDurden) November 3, 2023

This is not about clicks. This is about answers. And I’m not leaving this island without them.

— Bitboy Crypto (@Bitboy_Crypto) November 26, 2022

Long Lasting Feud

Armstrong has long opposed Bankman-Fried; weeks before the exchange collapsed, he had issued a warning to investors to remove their money from FTX.

Fomer BitBoy said , referring to his ongoing conflict with the former president of FTX: “This thing started between me and Sam and it’s going to end between me and Sam.”

Armstrong continued by saying that SBF had unblocked him on Twitter, indicating that this proved they had communicated.

“What made Sam Bankman Fried interested in cryptocurrencies? He got involved with cryptocurrency for financial gain and to further political themes. That is his priority, and now we have a man listed among the millionaires on Forbes. He may be among the top 100 millionaires in the world, but he does not truly care about cryptocurrency.”

“It’s a huge honour to see the passion and intensity with which Bitboy regards me,” Bankman-Fried in response to Armstrong’s bold accusations against him before stepping back from the spotlight as the world’s attention was focused on the Bahamas.

“Perhaps one day I’ll have the same strong feelings about something as he has about me.”

17) Anyway: I totally understand that lots of people will disagree with me on various points. That’s great—it means I have people to learn from.

And I really do think that regulation is going to get better, clearer, and create pathways for crypto to come back onshore.

— SBF (@SBF_FTX) October 23, 2022

Ending The Personality Cult

Instead of fixating on creating cults of personality, the cryptocurrency community should concentrate on platforms and leaders who are developing products utilizing Web3 principles to tackle problems in a way that far surpasses anything we’ve witnessed before.

It would be better for the crypto community to shift its attention from the most vocal figures in the room and begin heeding the counsel of those with more wisdom and experience, even if they may not be as outspoken. Likewise, crypto community needs experienced creators who have a track record of delivering tangible value to users to step forward and share their insights more often.

Ultimately, the responsibility lies with us and the individuals that we, as an industry, choose to elevate. We must learn to recognize and support developers who are constructing transparent, secure, and high-quality applications and decentralized solutions, regardless of the size of their following.

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About the Author

Teuta Franjkovic

Teuta is a seasoned writer and editor with more than 15 years of experience. She has expertise in covering macroeconomics and technology as well as the cryptocurrency and blockchain industries. She has worked for several publications as a journalist and editor, including Forbes, Bloomberg, CoinTelegraph, Coin Rivet, CoinSpeaker, VRWorld and Arcane Bear. Teuta began her professional career in 2005, working as a lifestyle writer at Cosmopolitan in Croatia. From there, she branched out to several other publications, covering mainly business and the economy. She then turned her attention to the world of cryptocurrency and blockchain, believing that crypto is among the most important inventions in the history of humanity. Her involvement in fintech began in 2014 and she has since lent her expertise in writing, editing and gathering information about the world of crypto, blockchain, NFTs and Web3. An all-round news hound, mentor, editor, and writer, Teuta enjoys teamwork and good communication. She holds a WSET2 diploma and has a thing for chablis, punkrock music and shoes. She also holds a double MA in Political science and Entrepreneurship.

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