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- A group of crypto investors filed a class action lawsuit against 9 influencers.
- The lawsuit seeks $1 billion in damages for supporting FTX to millions of people.
- Ben Armstrong is “excited by FTX’s lawsuit”, receiving backlash on Twitter.
The aftershocks of the most catastrophic earthquake in crypto history are back to haunt the most popular crypto influencers, who were paid by corrupt FTX boss Sam Bankman-Fried to back the FTX (FTT) token, among other cryptocurrencies and FTX-related products.
In response to legal action taken against Ben ‘Bit Boy’ Armstrong, who is famous crypto influencers announced: “We can finally prove unequivocally that I have never had anything to do with FTX”. However, this is not accurate, as the crypto YouTuber was actively endorsing the FTX (FTT) token just 9 months ago as one of the “biggest long term holds for 2022”.
Naturally, the video has now been taken down, but some crypto enthusiasts posted screenshots of it certain videos where it clearly states the opposite of BitBoy’s current claims.
BitBoy Launches SHIB Identity Disclosure Video
Yesterday, a well-known crypto YouTuber lashed out at Shytoshi Kusama, lead developer of Shiba Inu (SHIB), after allegations surfaced that the Shibarium Beta code may have been copied from another, less well-known blockchain. Shortly thereafter, BitBoy uttered “Wait until I find the founder of SHIB, Heck maybe tomorrow”, before the allegations were denied by chief developer Rinia hours later.
Additionally, in the early hours of Friday morning, BitBoy released a new 20-minute video on its YouTube channel regarding the development of the Shiba Inu Ecosystem. Digging deeper into the early days of the Shiba Inu, the YouTuber still hasn’t answered the question of who Shytoshi Kusama really is.
Crypto Twitter is digging at BitBoy
On the other hand, the class action lawsuit filed by Edwin Garrison and Gregg Podalsky for the United States District Court in Miami, Florida also deals with other crypto influencers such as lawyers Graham Stephan, Kevin Paffrath, Erika Kullber and talent agency Creators Agency LLC.
Ultimately, the outcome of this class action lawsuit could be a game changer for the way crypto is regulated, at least in the United States. While crypto lawyer and fellow YouTuber Legal Eagle indicated that this lawsuit is “a copy paste job of the lawsuit against Tom Brady” it could still set a precedent for stricter regulation with regards to the promotion of crypto on social media.
On Flipside
- Popular YouTuber Ben “BitBoy” Armstrong delivered on his promise to make a video revealing the identity of the Shiba Inu leader, but Shytoshi Kusama is mixed in with Ryoshi, who left the project over a year ago.
Why You Should Care
BitBoy is one of the most well-known crypto YouTubers with over 1 million subscribers, while the FTX fiasco is considered “the biggest financial scam in US history”, according to court documents.
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