BitBoy Crypto, also known as Ben Armstrong, is a popular crypto influencer with over 3 million subscribers on YouTube. However, he recently came under fire for breaking a promise not to sell his BEN tokens for six months. Just a week after making the pledge, he dumped all of his BEN tokens, leading to speculation and criticism from the community.
BEN was a memecoin created to capitalize on the hype surrounding more popular meme assets like PEPE, WOJAK, etc. The token immediately generated interest from the community due to Bitboy’s popularity after eth_ben sent him a considerable amount of coins for free.
This generated concerns that Bitboy would immediately dump the token. At the time, he committed to not selling for six months but said he would not be locking the coins because he wanted to piss off those who called him “a grifter, scammer, dishonest & a P&D’er.”
Following the disclosure that he sold, BitBoy said he made a deal with eth_ben to sell his original token allocation. The deal is for him to get 1000 ETH and $250,000 in stablecoins paid over six months.
BitBoy defended himself by saying the meme token has another backer struggling to move funds from traditional accounts. According to him, this is why the deal is not yet official. By the time the deal is done, he said the Ben Coin Foundation would hold 106 trillion tokens that can only be sold once the token hits a market cap of $500 million.
However, several crypto community members consider his explanation far from the truth. There are also speculations that eth_ben dumped the token on Bitboy, while some claim he paid Bitboy to shill the token.
Regardless of the true nature of the situation, the move has caused the value of BEN tokens to drop by 11% in the past 24 hours. BitBoy's actions have caused his followers to lose trust in him and his endorsements, highlighting the importance of transparency and integrity in the crypto industry.