A group of investors has recently filed a class-action lawsuit against Ben Armstrong, the owner of Bitboy Crypto, for allegedly promoting the bankrupt cryptocurrency exchange FTX.
The lawsuit, which was filed in the District Court for the Southern District of Florida, names several other defendants including financial YouTube channel founder Graham Stephan and talent acquisition company Creators Agency.
The plaintiffs are from various countries, including the UK, Canada, Australia, and the US, with Edwin Garrison of Oklahoma serving as the main plaintiff.
The investors have accused the defendants of providing false information about the FTX platform and “imposing” investments in unregistered securities, which they claim played a crucial role in the platform’s business growth. The investors are seeking over $1 billion in damages.
The lawsuit alleges that these defendants, including BitBoy Crypto, were paid tens of thousands of dollars and multi-million dollar bribes to promote the FTX platform.
However, Ben Armstrong denies these accusations and claims that he never interacted with FTX employees or acted as a marketing agent for the exchange.
He also stated that he did not receive any payments from FTX. Armstrong is ready to file a counterclaim and has criticized FTX founder Sam Bankman-Fried in the past for taking over crypto companies and “subduing the crypto space.”
In fact, after the bankruptcy of FTX in the fall, Armstrong even wished Bankman-Fried to go to jail as soon as possible.