- Ben Armstrong is worked up in regards to the CFTC's subpoena to Hit Community.
- Armstrong parted methods with Hit Community final yr because of disagreements.
- The CFTC subpoena covers 15 tokens, together with memecoin BEN.
Cryptocurrency influencer Ben Armstrong, who additionally goes by the identify “BitBoy,” expressed his pleasure over the CFTC subpoena issued to Hit Community, an organization he was beforehand related to. In line with reviews, the CFTC subpoenaed Hit Community and requested for particulars of actions associated to fifteen tokens, considered one of which is the memecoin BEN, which is linked to Armstrong.
In response to questions in regards to the CFTC subpoena, Armstrong claimed he had been warning individuals about potential issues at Hit Community for over a yr, however the crypto neighborhood had largely ignored him. BitBoy's feedback discuss with disagreements along with his former companions at Hit Community. The 2 sides severed enterprise relations greater than a yr in the past.
Hit Community's present CEO, TJ Shedd, eliminated Armstrong from the corporate in August 2023 because of allegations of substance abuse. The elimination sparked disagreements between the 2 events, resulting in Armstrong's arrest for exhibiting up at Shedd's residence to retrieve the disputed Lamborghini. Armstrong later admitted to taking fat burners and steroids, however denied taking laborious medicine. Nonetheless, he’s in a lawsuit with Hit Community over his departure from the corporate and possession of the automobile.
The CFTC's investigation into Hit Community goals to uncover a possible cryptographic fraud involving 15 tokens, together with memecoin BEN, which was created by a pseudonymous influencer generally known as ben.eth in Could 2023. The subpoena, dated July 16, seeks info on buying and selling actions and digital wallets related to those tokens.
Armstrong was the face of the Hit Community whereas with the corporate. He frequently hosted movies on YouTube recommending tokens that he claimed would enrich his viewers. A pseudonymous influencer generally known as ben.eth created BEN, one of many listed tokens within the summons, on Could 5, 2023.
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