Famous YouTube blogger to stand trial for promoting bankrupt cryptocurrency exchange FTX

A group of investors has filed a class action lawsuit against Ben Армстронг «href="https://noworries.media/biography/brajan-armstrong/» data-bio-id="3684">Armstrong, the owner of the Bitboy Crypto YouTube channel, accusing him of promoting the bankrupt FTX cryptocurrency exchange.

Edwin Harrison, a resident of the US state of Oklahoma, became the main plaintiff. He was joined by investors from the UK, Canada, and Australia. The complaint was filed in the District Court of the Southern District of Florida. In addition to BitBoy Crypto, the defendants include Graham Stephan, the founder of a YouTube channel about finance, and Creators Agency, a talent acquisition company.

The plaintiffs accused them of providing false information about the FTX platform and encouraging investors to invest in unregistered securities, which played a crucial role in the growth of the popularity and profitability of Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried's platform. Investors are seeking damages in excess of $ 1 billion.

«FTX would not have been able to rise to such heights without the influence of these influencers who promoted the platform. They received tens of thousands of dollars for this ,» the lawsuit states.

Ben Armstrong commented on the situation, explaining that he had never interacted with FTX employees and did not act as a marketing agent acting on behalf of the exchange. According to Armstrong, he has not received a single dollar from FTX. The YouTuber called the allegations false and is ready to file a counterclaim.

At the end of November, Ben Armstrong even started searching for Bankman-Fried by flying to the Bahamas, but the blogger failed to meet SBF.

Last July, BitBoy Crypto urged his viewers to invest in the DOCK cryptocurrency, which turned out to be a fraudulent scheme. Thus, an unnamed user who decided to buy DOCK purchased advertising from BitBoy for $ 30,000. In his video, the blogger said that it was an advertising integration only at the end, so most viewers did not know about it. After the video was published, investors began to actively invest their own funds in the new cryptocurrency, which increased the value of DOCK. In August, Armstrong admitted his mistake.