BitBoy Plans to Countersue Plaintiffs Behind $1B FTX-Related Class Action
The influential digital asset YouTuber Ben Armstrong, also known as BitBoy Crypto, stated on Thursday he is planning to countersue the plaintiffs behind a recent class action lawsuit targeting influencers with ties to FTX. The $1 billion lawsuit was filed on Wednesday by residents of the USA, Australia, England, and Canada.
BitBoy Plans to Countersue Plaintiffs of a $1 Billion FTX-Related Class Action
This Thursday, Ben Armstrong, known on Youtube as BitBoy crypto, announced his plans to countersue the plaintiffs of a recent class action targeting influencers that promoted FTX. According to Armstrong, he never had contact with anyone at FTX, and never had an affiliate link from the failed cryptocurrency exchange.
He also stated he is excited about the lawsuit as it will “prove unequivocally (he) never had dealings with FTX”. Armstrong expressed his belief he will “roast these Low IQ plebs and their lawyers” in his countersuit. BitBoy has previously proven his willingness to take various matters to court.
Last June, he was one of the cheerleaders for a class action lawsuit after Celsius blocked user withdrawals for multiple days prior to filing for bankruptcy. Two months later, in August, he sued another YouTuber, Atozi, who claimed Armstrong has been deceiving his audience by failing to disclose paid promotions. BitBoy has also been a vocal commentator of the FTX collapse expressing his belief that Sam Bankman-Fried was behind a sudden activity of Alameda Research’s wallet that unexpectedly came to life at the tail-end of December.
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Multiple Influencer Sued for Promoting FTX Without Proper Disclosure
On Wednesday, March 15th, a lawsuit targeting multiple influencers was filed in Florida. The complaint, currently seeking class-action status, alleges that the influencer failed to adequately disclose they were paid to sponsor the now-bankrupt cryptocurrency exchange FTX. Some of the bigger names among the defendant include Erika Kullberg, Kevin Paffrath, Graham Stephan, Tom Nash, and Ben Armstrong.
On November 17th, just days after the exchange filed for bankruptcy, a similar class action lawsuit was initiated against celebrities that promoted FTX. The complaint named NFL quarterback Tom Brady, tennis player Naomi Osaka, the famous comedian Larry David, and Sam Bankman-Fried himself, along with many others, as defendants and is currently ongoing.
The collapse of FTX sent shockwaves across the cryptocurrency industry and led to numerous bankruptcies and lawsuits. The company’s former CEO, Sam Bankman-Fried, is currently facing civil and criminal charges of fraud filed by the SEC, the CFTC, and the DoJ. The downfall of the world’s former second-largest cryptocurrency exchange also revealed the complicated entanglement of multiple digital asset firms and led to a feud between the Gemini Trust and the Digital Currency Group, and a lawsuit filed by Alameda Research against Grayscale seeking to recover at least $9 billion worth of funds.
Do you think influencers should be held accountable for promoting FTX prior to its collapse? Let us know in the comments below,