Cryptocurrency influencer Ben Armstrong, otherwise known as 'BitBoy', has been released on bail following his arrest during a late-night incident on Monday, which involved a confrontation with his former business partner.

The confrontation was partially live-streamed on X (formerly known as Twitter).

Online records from the Gwinnett County Sheriff's Department reveal that Ben, listed as "Benjamin Charles Armstrong," was arrested for "loitering/prowling" and "simple assault by placing another in fear," with a bail amount set at $2,600.

During the incident, he was found in possession of a firearm in the backseat of his vehicle, and he was accompanied by another individual.

The arrest comes in the wake of Ben's earlier removal from his media company, BitBoy Crypto, following a unanimous decision announced in August, which may have contributed to the events leading up to Monday's altercation.

What Happened During BitBoy's Livestream That Led To His Arrest?

He had informed his X followers of his plans to go live on YouTube from what he referred to as a "very special location" on Monday evening.

He arrived at the residence of his former partner, Carlos Diaz, during the live stream launched into a heated tirade, claiming that Carlos intended to harm him and accusing him of ties to the Houston mafia.

Amidst the live stream, Ben boldly declared, "Carlos, I’m not afraid of you," as the police arrived at the scene at approximately 19 minutes and questioned him about the presence of a weapon, which he confirmed was in his car after denying it.

Subsequently, he was instructed to set down his phone, resulting in the live stream going blank for the remaining 17 minutes.

However, audio from the interaction between him and the police officers remained audible.

Notably, blockchain investigator "ZachXBT," who has a critical perspective on Ben, commented:

"Will always celebrate one of the most notorious bad actors in crypto finally getting karma."

Carlos later confirmed Ben's presence outside his home via a tweet, stating:

"Don't know when to stop lying."

@BenArmstrongsX Don't know when to stop lying. #CarlosTheApepic.twitter.com/5eH9nk4A75
— Carlos Diaz (@CarlosDiaz_22) September 26, 2023
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In a previous tweet, he referenced a dispute over a Lamborghini and mentioned his attempts to assist Ben.

Is BitBoy Still Under The 'BitBiy Crypto' Brand?

In late August, the Hit Network, the entity behind the "BitBoy Crypto" brand, severed its association with Ben, who had been the public face of the brand.

The decision was attributed to concerns related to substance abuse and financial harm affecting employees.

Subsequently, a series of lawsuits were initiated and later withdrawn by different parties involved in the dispute.

On 20 September, Ben made an appeal for donations to support his legal challenges, an action that garnered considerable attention and reaction within the crypto community.

After his release on bail, Ben went on X to state that it was "the hardest tweet" he has ever had to make.