Crypto influencer Ben Armstrong was arrested on Monday after an apparent confrontation with his former business partner that was live-streamed on a social media platform. Online records from the Gwinnett County Sheriff’s Department show that Armstrong was charged with “loitering/prowling” and for “simple assault by placing another in fear”, with a bond amount of $2,600. During the incident, Armstrong was found to have a loaded weapon in the backseat of his car and was accompanied by another person.
The news of Armstrong’s arrest quickly impacted the value of BEN tokens, which had been launched by Armstrong earlier this year. As reports of the arrest spread, the BEN token experienced a sharp 30% drop. It is believed that Armstrong’s removal from his media company, BitBoy Crypto, following a unanimous decision in August, played a role in the altercation leading to his arrest.
This incident has highlighted the unpredictable nature of the cryptocurrency market, as the arrest of a prominent influencer can have immediate and significant consequences. It remains to be seen how Armstrong’s legal troubles will impact his online presence and the future of BEN tokens. As the story develops, it raises questions about the potential risks and volatility associated with the crypto industry, often led by individuals as influential as Armstrong.