Ben ‘BitBoy’ Armstrong posts bail after arrest for loitering at former business partner’s house

Ben “BitBoy” Armstrong was arrested after livestreaming himself attempting to confront a former business partner, the crypto investor and consultant Carlos Diaz, at the latter’s home. 

The influencer and crypto investor was released on bail Monday after being charged with “loitering/prowling” and “simple assault by placing another in fear,” according to CoinDesk, which cited records from the Gwinnett County Sheriff’s Department in Georgia.

Armstrong paid a $2,600 bond and was released after eight hours in jail, according to a Tuesday post on X, formerly Twitter.

Armstrong was ousted from his company, BitBoy Crypto, in August, and has since tried and failed to reclaim the firm from its owner, the HIT Network, through an emergency injunction. Earlier this month, he posted a video owning up to mistakes he made that led to his ouster and said he would cooperate with the HIT Network. He also revealed that he had an affair, which chipped away at his image as a supposed family man.

The conflict boiled over into Monday’s livestream posted to X, where Armstrong can be seen ranting about Diaz stealing his Lamborghini among other allegations.

Armstrong is later captured in the livestream being arrested by police, whom he calmly greeted with a “How’s it going?” before they asked him repeatedly to stop walking toward them and to drop his phone and fanny pack. Armstrong said he wasn’t armed but that he had a weapon in the backseat of his car, and when the officers asked who else was with him, he hesitated before replying that the woman he had an affair with, Cassie, was in his car.

Crypto Twitter pounced on the incident, with some claiming his actions either were a sign of crypto’s rock bottom or the beginning of another bull run.

Ben Coin, Armstrong’s namesake crypto token, tumbled more than 20% on Tuesday following news of his arrest, according to CoinMarketCap.

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