Ben Armstrong, Founder of Bitboy Crypto, Freed on Bail Following His Arrest

Crypto News– Crypto influencer Ben Armstrong has been released on bail subsequent to his late Monday night arrest, stemming from an alleged altercation with his former business partner that was partially streamed on the X platform (formerly known as Twitter).

Ben Armstrong, Founder of Bitboy Crypto, Freed on Bail Following His Arrest

Online records from the Gwinnett County Sheriff’s Department indicate that a person identified as “Benjamin Charles Armstrong” faced charges of “loitering/prowling” and “simple assault by placing another in fear,” with a bail amount set at $2,600.

During the incident, Armstrong was reportedly found in possession of a firearm in the backseat of his vehicle, accompanied by another individual, as seen in a snippet of a live stream on the X platform.

The BEN tokens, which were introduced to the market by Armstrong earlier this year, underwent a substantial and precipitous decline in value, amounting to a notable 30% reduction. This significant depreciation in token value coincided with the dissemination of news about Armstrong’s arrest, which began circulating on Tuesday.

Acknowledging the incident, Armstrong shared a tweet addressing the situation. It’s worth noting that Armstrong had previously been ousted from his media company, BitBoy Crypto, following a unanimous decision, as announced in August. This preceding development likely played a role in the events leading up to Monday’s altercation.