The Bitcoin and crypto market price action as a whole may not be very entertaining of late, although it’s gotta be said, it’s all holding up remarkably well considering the Wall Street selloffs this week.

Relatively stable and more than a bit boring, then. But… crazier goings-on across the cryptoverse, unrelated to market movements (or are they?), never cease to flabbergast.

We’re not talking eye-watering hacks and hopium-fuelled to-the-moon price predictions here, although we might touch on some of the latter further down.

Nope, we’re talking about… this…

 

Bitboy vs Hit Network

Honestly don’t quite know what to say about this Bitboy vs Hit Network saga that’s been playing out across crypto social media lately, if you’ve noticed. It’s probably best we say not too much, in fact.

But then… the whole thing’s been dominating the Crypto Twitter/X space these past couple of days, so why not dig in a wee bit?

For some sort of context… Ben “Previously Known as Bitboy” Armstrong, one of crypto’s biggest YouTubers, content creators and influencooors, has fallen out, in a very big way, with key members of the company he built – the Hit Network.

And that’s a popular group of YouTube-based crypto media content channels. In fact, for the moment, it appears he’s been booted from the company, which he owns about 67% of.

How so? It’s complicated, and involves a clause in the ownership contract and a series of quite serious allegations.

Members of Hit Network have publicly alleged (and, it seems privately through lawyers) that Armstrong has misappropriated company funds and has committed various levels of abuse to Hit Network employees, and apparently has a substance abuse problem.

It’s hard to ascertain what’s real and what isn’t with this at this point. It’s clear, however, that Armstrong is pretty bloody ticked off about it all – as anyone might be having been ejected from their “brand”.

A legal stoush appears set to ensue, but hey, why not let it all play out in an incredibly ugly way on social media first, eh?

Some of Armstrong’s posts regarding it all have been the most entertaining, in a car-crash-viewing kind of way, and have been parodied in a series of songs by the likes of @songadaymann (see further below).

For the record, though, here’s Hit Network CEO TJ Shedd’s side of the argument, per an interview with fellow crypto YouTubers Altcoin Daily.

The whole saga reached a new level of craziness yesterday when Armstrong was arrested while live-streaming outside the house of someone called Carlos Diaz – a former friend/business associate of Armstrong’s – who the latter alleges is in possession of the Lamborghini he claims has been “extorted” from him.

An irate Armstrong has claimed in his social posts that Diaz has threatened his life, and alleges the man has mafia/organised crime links.

“I’m not scared of you, Carlos!” Armstrong blustered.

Roughly 19 minutes into his livestream, police showed up who proceeded to question Armstrong, asking if he had a weapon on him. Armstrong initially denied, but then explained he had one in his car.

When he was asked who was in the car, Armstrong baulked then admitted it was “Cassie” – the woman and crypto business associate the married YouTuber has admitted (via social media, of course) to having an affair with. Why’s that important? Maybe it isn’t, but we did say it was complicated.

According to a Gwinnett County, Georgia, Sheriff’s Office listing, Armstrong was booked on September 25. It appears he was incarcerated for about eight hours, according to the man himself – for “loitering”.

 

Yep, and we wonder why so much of crypto has a bad reputation…

 

Top 10 overview

With the overall crypto market cap at US$1.09 trillion, down a fraction since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

 

Uppers and downers

Some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)

 PUMPERS (11-100 market cap position)

• Maker (MKR), (market cap: US$1.28 billion) +6%

• Rollbit Coin (RLB), (market cap: US$343 million) +4%

• Radix (XRD), (market cap: US$633 million) +4%

 

SLUMPERS

• Aptos (APT), (market cap: US$1.25 billion) -5%

• XDC Network (XDC), (market cap: US$659 million) -4%

• ImmutableX (IMX), (market cap: US$676 million) -3%

 

Around the blocks

Some pertinence and randomness that stuck with us on our morning moves through the Crypto Twitterverse.

Hmm… we know this isn’t crypto, but is that a bullish cup and handle pattern spotted here for the S&P 500 by US economist/analyst Sven Henrich?

 

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