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

Last Updated November 3, 2023 2:07 PM
Teuta Franjkovic
Last Updated November 3, 2023 2:07 PM

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.”

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.

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.”

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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