Molly Jane Zuckerman

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="256" src="https://blockworks-co.imgix.net/wp-content/uploads/2023/06/Off-Topic-with-Molly-Jane_20230616a-1.png?w=1024&amp;h=1024" alt="" class="wp-image-60166" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2023/06/Off-Topic-with-Molly-Jane_20230616a-1.png?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2023/06/Off-Topic-with-Molly-Jane_20230616a-1.png?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2023/06/Off-Topic-with-Molly-Jane_20230616a-1.png?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2023/06/Off-Topic-with-Molly-Jane_20230616a-1.png?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2023/06/Off-Topic-with-Molly-Jane_20230616a-1.png?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2023/06/Off-Topic-with-Molly-Jane_20230616a-1.png?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2023/06/Off-Topic-with-Molly-Jane_20230616a-1.png?w=80 80w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure>



Everybody loves a delicious story.&nbsp;



The delicious story of the week for Crypto Twitter was Ben Armstrong (formerly BitBoy Crypto) and his firing, flameout and livestreamed arrest.&nbsp;



Crypto media treated the story with as much interest and enthusiasm as if it was FTX 2.0. At least, it felt especially so, because Armstrong — long a controversial figure before his unceremonious exit from the successful BitBoy Crypto channel on YouTube — had taken such pleasure in saying he (allegedly) <a href="https://twitter.com/YahooFinance/status/1594369981705240582">knew</a> ex-FTX boss Sam Bankman-Fried was a “scammer” since day one.



I’m not here to opine on what Ben Armstrong and his now-former business associates allegedly did or didn’t do, both recently and in the past &nbsp;— there’s plenty of Crypto Twitter fodder to churn through if you’re interested.&nbsp;



Instead, I want to dig into why this story captured the hearts and minds of crypto, and crypto alone, this week.&nbsp;



The phrase “there’s no press like bad press” seems apt here. Could it be that we are all secretly hoping for Armstrong’s public meltdown to catapult crypto again into the wider media universe?



Crypto-only media outlets tend to focus on the real meat of the crypto space. New innovations, launches, partnerships, regulation (and also sometimes, inexplicably <a href="https://blockworks.co/news/ai-cryptocurrency-connection">AI</a>) — in other words, up-close coverage of straight news that’s really only important to the crypto circle. And we don’t expect anyone else to care.



The big exception, as I’m sure you are all waiting with baited breath for me to say, is the case of FTX and Sam Bankman-Fried. This was a story that made it beyond crypto media to the mainstream, and also a story that went beyond covering a run-of-the-mill crypto scam to tabloid-esque coverage of polycules.&nbsp;



The BitBoy story, salacious as it may be, has remained siloed within crypto media. Scrolling back through every single article covering the Armstrong/BitBoy this week, you can only find one non-crypto media outlet who took the bait, and their piece spells crypto as “crytpo.”



I’m not begrudging crypto media outlets a chance to pounce on a sensational story. The market has been exceptionally boring for the past few months — and there are only so many articles you can write about the supposed “end of the bear market.”



Read more from our opinion section: <a href="https://blockworks.co/news/crypto-must-advertise-airports" target="_blank" rel="noreferrer noopener">Crypto must advertise</a>



But seeing the crypto world’s interest in the situation around Armstrong and BitBoy Crypto feels a bit like the masses grasping at straws of relevancy. It was definitely a terrible time for crypto when Bankman-Fried was the center of worldwide media attention, and the spotlight on FTX’s collapse did nothing to help crypto’s perception — but at least it was a hot topic that brought crypto an insane amount of mindshare.&nbsp;



If the plan is to repeat this situation, it’s not working. It doesn’t seem like Ben Armstrong and his antics have left a strong enough mark —&nbsp;nobody involved allegedly misappropriated billions of dollars, for example — to inspire books and TV documentaries, like someone else we know.



The Armstrong drama — and the attention paid especially — instead seems symptomatic of what I see as crypto’s often misguided superiority complex. The sheer audacity of the FTX tale took the world by storm last year. But we’re still nowhere near capturing that mindshare high again, especially not with smaller <a href="https://twitter.com/HashBastardsNFT/status/1707045975057903763?s=20">dramas</a> of crypto YouTubers and their Lamborghinis.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



I don’t care much about tech, I don’t care a whole lot about finance, either. I care about writing stories and watching weird things unfold. And that’s why I’ve ended up in crypto. But because I’m missing that passion for what crypto and blockchain are all about — finance, tech, privacy, yadda yadda — I’m going to write instead about what I am actually interested in. Everything about crypto that has very little to do with crypto. That’s what this column will be about. All the tangential stories that come out of the blockchain and crypto space, what I think about them, and how I navigate it all as a skeptical former Russian literature major. It’s precisely my perch as an outsider that lets me do what I do: Opine on all sides of any crypto issue, no strings attached, no skin in the game. If you want to talk crypto with me, let’s go off topic.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Get the news in your inbox. Explore Blockworks newsletters:



<ul class="wp-block-list">
<li><a href="https://blockworks.co/newsletter/the-breakdown">The Breakdown</a>: Decoding crypto and the markets. Daily.</li>



<li><a href="https://blockworks.co/newsletter/0xresearch">0xResearch</a>: Alpha in your inbox. Think like an analyst. </li>
</ul>

Ben Armstrong

Crypto is boring right now, but the BitBoy drama isn’t much more exciting

Katherine Ross

Jacksonville Jaguars quarterback Trevor Lawrence, alongside YouTube influencers Keven Paffrath and Tom Nash, reached proposed settlements in the FTX class-action lawsuit, according to court documents filed on Friday.



No details or settlement terms were disclosed in the filing.



In addition, the counsel for the class action noted that they’re “engaged in ongoing confidential, settlement discussions with additional FTX defendants.”



Mediation dates are <a href="https://www.docdroid.net/0SFJH6F/show-temp-lawrence-dismissal-pdf#page=2">set</a> for October and November, and lawyers revealed their intention to file Motions to Dismiss soon.



In a separate filing on Friday, attorneys representing the plaintiffs filed a notice of voluntary dismissal of Ben Armstrong. Armstrong, in April, was <a href="https://blockworks.co/news/bitboy-ben-armstrong-ftx-legal-action">accused of harassing attorneys</a> involved in the suit.



If the settlements move forward, the counsel plans to submit a filing on Jan. 5 seeking to schedule a Motion for Preliminary Approval.



In addition to Nash, Paffrath and Jackson, a number of celebs including Tom Brady, Shaquille O’Neal, Gisele Bundchen and Larry David were named in class action suits following the collapse of <a href="https://blockworks.co/tag/ftx">FTX</a>. The suits were consolidated in Miami before a federal judge.



A class action suit was also <a href="https://blockworks.co/news/golden-state-warriors-lawsuit-ftx">filed against Steph Curry and the NBA’s Golden State Warriors</a> in July. Plaintiffs claim that the Warriors and Curry engaged in a conspiracy that “​​substantially assisted or encouraged the wrongdoing conducted by the FTX Group.”



The settlement filings come just weeks before FTX’s former CEO <a href="https://blockworks.co/tag/sam-bankman-fried">Sam Bankman-Fried</a> is set to stand trial on Oct. 3. Bankman-Fried faces fraud charges in relation to the collapse of FTX last year.&nbsp;



Additionally, Bankman-Fried pleaded not guilty to <a href="https://blockworks.co/news/sam-bankman-fried-new-charges-pleads-not-guilty">seven fraud and conspiracy charges</a> last month.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Get the news in your inbox. Explore Blockworks newsletters:



<ul class="wp-block-list">
<li><a href="https://blockworks.co/newsletter/the-breakdown">The Breakdown</a>: Decoding crypto and the markets. Daily.</li>



<li><a href="https://blockworks.co/newsletter/0xresearch">0xResearch</a>: Alpha in your inbox. Think like an analyst. </li>
</ul>

Three defendants reach tentative settlements in FTX class action suit

Courts formally served Ben ‘BitBoy’ Armstrong on April 5, due to his alleged harassment of attorneys involved in the FTX class action lawsuit. The case had previously named Armstrong as one of eight influencers who promoted FTX without “the nature and scope of their sponsorships and/or endorsement deals, payments and compensation, nor conduct adequate (if any) due diligence.”&nbsp;



In the weeks since the suit was filed back in March, Armstrong has allegedly been in contact with the lawyer representing the plaintiffs, Adam Moskowitz, through emails, social media and phone calls.



The attorneys originally filed a complaint against Armstrong in March, alleging that he had “left voicemails” that targeted the counsel, including one to Moskowitz claiming, “We’re going to have First Amendment protesters around your house 24/7 day and night.”



According to the most recent filing, the lawyers were unable to serve Armstrong until April 5. Lawyers involved with the case requested a hearing with the court to address the “serious matters of Armstrong’s conduct to date.”



In the filing, the lawyers wrote, “plaintiffs respectfully suggest that any Court cannot condone or allow such inappropriate, bullying, unprofessional and, frankly, terrorizing conduct, specifically in a time where social media reaches millions of people and which involves direct threats on officers of the court and their families.”



In response to being served, Armstrong claims that he asked the process server to deliver a message to Moskowitz that he’s “going to bury” the lawyers. He concluded the message with a threat, saying &#8220;You&#8217;re going to pay, buddy.&#8221;



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="BitBoy Crypto Video" width="1024" height="576" src="https://www.youtube.com/embed/nW8SFEmi6AM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Armstrong had previously tweeted about Moskowitz, calling him “a walking piece of human garbage.”



The lawyers are also requesting a hearing in another class action lawsuit that has named Armstrong as a defendant. The second lawsuit alleged that <a href="https://blockworks.co/tag/binance">Binance</a> CEO Changpeng Zhao and social media influencers – including Armstrong – promoted, “assisted in and/or actively participated in Binance’s offer and sale of unregistered securities.”



In the Zhao case, however, the court has not yet responded to the harassment claims against Armstrong.



Last August, <a href="https://blockworks.co/news/crypto-youtuber-sues-fellow-influencer-who-dubbed-him-shady-dirtbag">Armstrong sued YouTuber Atozy</a> – whose real name is Erling Mengshoel – alleging that Mengshoel damaged business relations and hurt his reputation after the release of a video in 2021 claiming that Armstrong promoted scams. Armstrong <a href="https://blockworks.co/news/crypto-youtuber-bitboy-drops-defamation-suit-after-public-outcry">dropped</a> the suit after it became public.



Update: April 6, 2023 at 7:28pm ET. Updated to clarify that Armstrong did not post the video to YouTube himself, he claims in a <a href="https://twitter.com/Bitboy_Crypto/status/1644062661515137043?s=20">tweet</a> to have asked the process server to record it and deliver to the attorneys.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Get the news in your inbox. Explore Blockworks newsletters:



<ul class="wp-block-list">
<li><a href="https://blockworks.co/newsletter/the-breakdown">The Breakdown</a>: Decoding crypto and the markets. Daily.</li>



<li><a href="https://blockworks.co/newsletter/0xresearch">0xResearch</a>: Alpha in your inbox. Think like an analyst. </li>
</ul>

‘BitBoy’ Ben Armstrong Faces Legal Action From FTX Class Action Lawyers

Shalini Nagarajan

<div id="highlights-block_63073024d0b5d" class="highlights">
 <ul>
 <li>Ben &#8216;BitBoy&#8217; Armstrong had alleged he sustained losses of more than $75,000 after fellow YouTuber &#8216;atozy&#8217; released a critical video</li>
 <li>Atozy raised about $200,000 from the crypto community to support his legal defense</li>
 </ul>
 
</div>



Ben Armstrong — the YouTuber who goes by the name &#8220;BitBoy Crypto&#8221; — <a href="https://cms.blockworks.co/crypto-youtuber-sues-fellow-influencer-who-dubbed-him-shady-dirtbag/" target="_blank" rel="noreferrer noopener">recently sued</a> fellow influencer Erling ‘Atozy’ Mengshoel in a defamation lawsuit.&nbsp;



He’s now apologized that the suit caught public attention, and is dumping the case.



“We are going to drop the lawsuit, 100%,” he said during his regular <a href="https://www.youtube.com/watch?v=0VGmTZWB4RY" target="_blank" rel="noreferrer noopener">livestream</a> on Wednesday. “I&#8217;m sorry this became public.”



Armstrong wanted the matter to be private, disclosing that a previous confidential lawsuit was settled to his preference. “I&#8217;ve had another lawsuit. It was behind closed doors, and it worked out great. Both parties were happy, and it was settled,” he said, without providing further details.&nbsp;



The YouTuber then expressed he hadn’t anticipated the public would find out about the lawsuit, as his &#8220;name is now so big.&#8221; If he did, he wouldn’t have filed it, he said (all lawsuits are <a href="https://connorreporting.com/court-records-proceedings-public/" target="_blank" rel="noreferrer noopener">public record</a>).



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">So, about the <a href="https://twitter.com/Bitboy_Crypto?ref_src=twsrc%5Etfw">@Bitboy_Crypto</a> / <a href="https://twitter.com/atozy?ref_src=twsrc%5Etfw">@atozy</a> lawsuit: It looks like everyone is doing the right thing now. And as I suspected, it seems Ben was mislead by his lawyers who *definitely* should have known better. Yay for happy endings.&mdash; 𝙳𝚊𝚟𝚒𝚍 𝚂𝚌𝚑𝚠𝚊𝚛𝚝𝚣 (@JoelKatz) <a href="https://twitter.com/JoelKatz/status/1562632406829371394?ref_src=twsrc%5Etfw">August 25, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div><figcaption>Ripple chief technology officer David Schwartz has been <a href="https://twitter.com/JoelKatz/status/1562316408301637632" target="_blank" rel="noreferrer noopener">vocal</a> about the lawsuit on Twitter.</figcaption></figure>



His lawsuit filed August 12 was based on a <a href="https://www.youtube.com/watch?v=DibvroDcT88" target="_blank" rel="noreferrer noopener">November 2021 video</a>, in which Atozy describes BitBoy Crypto as “a shady dirtbag who milks his audience for a quick buck rather than giving them genuine advice.” Atozy also slams the YouTuber for hyping a flop token called Pamp and argues he shouldn’t be offering financial advice.



Armstrong alleged he sustained losses over $75,000, and so his claim sought general, compensatory and special damages for defamation. The claim will be walked back now that the case is being dropped.



“Atozy, you’re the winner here. He’s the winner. I’m the loser,” he said.



This isn’t the first time Armstrong planned unsuccessful legal action. After Celsius’ bankruptcy in June, he <a href="https://twitter.com/Bitboy_Crypto/status/1537987628494036994" target="_blank" rel="noreferrer noopener">intended to launch</a> a class-action lawsuit against the lender over its platform-wide withdrawal freeze. Realizing that he once promoted Celsius’ business via his BitBoy Crypto YouTube channel, he dropped the plan.



Armstrong’s lawyers from Krevolin &amp; Horst didn’t return Blockworks’ request for comment by press time.



<h3 class="wp-block-heading">Atozy thanks crypto community for rallying defense against BitBoy</h3>



Atozy <a href="https://www.youtube.com/watch?v=B95xYAfRCtY" target="_blank" rel="noreferrer noopener">uploaded a video</a> titled “I got sued” on Wednesday, in which he defended his comments against BitBoy Crypto. “When the largest crypto channel on YouTube promotes something that turned out to be a scam, that&#8217;s something worth covering,” he said.



He intended to fight the case. But because he didn’t have the money for it, he linked a <a href="https://www.gofundme.com/f/defending-myself-from-bitboys-frivolous-lawsuit?utm_campaign=p_lico+share-sheet&amp;utm_medium=copy_link&amp;utm_source=customer" target="_blank" rel="noreferrer noopener">GoFundMe page</a> to help defend himself against Armstrong’s “frivolous lawsuit.”&nbsp;



As of Thursday, Atozy had received 610 donations worth $53,407 through the campaign. Additionally, seasoned crypto podcaster Cobie <a href="https://twitter.com/crockpot_xyz/status/1562399751747821568" target="_blank" rel="noreferrer noopener">donated</a> USDC worth $100,000.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">He did it 🫡 <a href="https://t.co/6fNpi28dRZ">pic.twitter.com/6fNpi28dRZ</a>&mdash; Crockpot (@crockpot_xyz) <a href="https://twitter.com/crockpot_xyz/status/1562399751747821568?ref_src=twsrc%5Etfw">August 24, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



After Armstrong said the lawsuit would be scrapped, Atozy confirmed he raised about $200,000 in total. He said he would refund donors once it was officially confirmed that the suit would be pulled.&nbsp;



“Thank you guys for saving me,” Atozy said. 



Still, Atozy appears skeptical, <a href="https://twitter.com/atozy/status/1562547774377168897" target="_blank" rel="noreferrer noopener">tweeting</a> late Wednesday: &#8220;If [Armstrong] has really directed his lawyer to dismiss the lawsuit against me he should prove that it&#8217;s happened by posting a copy of the dismissal WITH PREJUDICE of all claims against me.&#8221;



&#8220;I&#8217;m told by my lawyer that if it is not with prejudice he can refile at any time,&#8221; he said.



Updated with additional tweets from Atozy.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Get the news in your inbox. Explore Blockworks newsletters:



<ul class="wp-block-list">
<li><a href="https://blockworks.co/newsletter/the-breakdown">The Breakdown</a>: Decoding crypto and the markets. Daily.</li>



<li><a href="https://blockworks.co/newsletter/0xresearch">0xResearch</a>: Alpha in your inbox. Think like an analyst. </li>
</ul>

Atozy

Crypto YouTuber ‘BitBoy’ Drops Defamation Suit After Public Outcry

<div id="highlights-block_62fb8177f85f9" class="highlights">
 <ul>
 <li>In a video last year, Atozy called BitBoy a “shady dirtbag” who shouldn’t be offering financial advice</li>
 <li>BitBoy has previously been called out over getting paid for scam cryptocurrency promotions</li>
 </ul>
 
</div>



Ben Armstrong, a YouTube influencer who goes by the name ‘BitBoy Crypto,’ sued a fellow social media personality over defamatory claims that he scammed his audience by promoting an offbeat cryptocurrency.



In the lawsuit, reported by <a href="https://www.law360.com/articles/1520802" target="_blank" rel="noreferrer noopener">Law360</a> on Monday, Armstrong alleged that the influencer Erling Mengshoel negatively impacted his business relations after releasing a <a href="https://www.youtube.com/watch?v=DibvroDcT88" target="_blank" rel="noreferrer noopener">November 2021 video</a> that scorns BitBoy for promoting scams and pumping micro-cap coins to fans.



Mengshoel — who goes by ‘Atozy’ on YouTube — says in the video that BitBoy has “been known for being a shady dirtbag who milks his audience for a quick buck rather than giving them genuine advice.”&nbsp;



He also claims Armstrong isn’t someone who should be offering financial advice because “you don’t know whether he’s trying to enrich you or himself,” and calls him out for talking up a washout cryptocurrency called Pamp.



That hasn’t sat well with Armstrong. He mentioned Atozy’s public dissing in his complaint, protesting against the use of phrases “shady dirtbag” and “dirtbag YouTuber.” Atozy’s video led viewers to believe Armstrong was paid by fraudsters to sell cryptocurrency to “suckers” willing to buy it, the complaint added.



Mengshoel also told viewers in the video that regulators were likely to probe such promotions, saying “it’s basically inevitable the SEC is going to get involved because dirtbags like this cannot resist the urge to take that quick buck and just milk their audience for some extra money.”



Armstrong alleges in his complaint that Atozy’s “attack piece” significantly impacted his business as the number of his followers reduced, damaged his reputation and caused him severe anxiety. He said he fears being “perceived as a felon, a fraud, and untrustworthy in business or in general.”



His lawsuit seeks general, compensatory and special damages for defamation, intentional and negligent infliction of emotional distress, tortious interference with business and violations of Georgia’s Uniform Deceptive Trade Practices Act and Fair Business Practice Act.&nbsp;



<h3 class="wp-block-heading">BitBoy snubbed as hypeman by other commentators</h3>



Atozy isn’t the only one criticizing BitBoy’s cryptocurrency promotions. A widely-followed Twitter user ZachXBT once shared a <a href="https://twitter.com/zachxbt/status/1478082010807742468?s=20" target="_blank" rel="noreferrer noopener">pamphlet</a> showing the influencer’s rates for reviews, livestream mentions, YouTube interviews and website articles.&nbsp;



A “dedicated review” was priced at $35,000, a screenshot of a media kit he shared with a potential client showed.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">1/ Let’s review all the direct scams Bitboy has worked with in the past. Just in case you forgot here is the flyer with how much he charges. I received this a while back by posing as a project interested in a promotion. 🧵 👇 <a href="https://t.co/FkC9HUDGsc">pic.twitter.com/FkC9HUDGsc</a>&mdash; ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1478082010807742468?ref_src=twsrc%5Etfw">January 3, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<a href="https://coinmarketcap.com/currencies/myx-network/" target="_blank" rel="noreferrer noopener">MYX Network</a> and <a href="https://coinmarketcap.com/currencies/distx/" target="_blank" rel="noreferrer noopener">DistX</a>, both of which have made no gains since 2020, are among the dubious cryptocurrency tokens he’s promoted, according to ZachXBT. Armstrong once labeled a video on DistX “my most trusted coin,” but later went on to revise the title.



Separately, the YouTuber was recently described as an “untrained investment adviser” in a <a href="https://www.washingtonpost.com/business/2022/07/24/crypto-advice-bitboy-armstrong/" target="_blank" rel="noreferrer noopener">Washington Post report</a> that highlighted his bad-mouthing of bankrupt lender Celsius after initially encouraging investors to deposit their money with the firm. 



He told The Post that he doesn’t personally own cryptocurrencies, and that the chief financial officer of BitBoy — a media enterprise with 70 employees — handles all crypto transactions for the firm in case of potential conflicts.



Armstrong’s lawyers from Krevolin &amp; Horst didn’t return Blockworks’ request for comment by press time. It isn’t clear who is representing Mengshoel.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Get the news in your inbox. Explore Blockworks newsletters:



<ul class="wp-block-list">
<li><a href="https://blockworks.co/newsletter/the-breakdown">The Breakdown</a>: Decoding crypto and the markets. Daily.</li>



<li><a href="https://blockworks.co/newsletter/0xresearch">0xResearch</a>: Alpha in your inbox. Think like an analyst. </li>
</ul>