The Fall of "BitBoy Crypto" - Greed and Sponsorships

this video is brought to you by rocket money stick around to hear more about the special offer they are providing to the entire upper echelon Community alright today's video is a little bit less of the investigation stuff though I am working on a couple more big projects in the background and more has to do with opinionated analysis for those interested let's get started funny thing this

video is all about sponsorships in a way and also happens to be sponsored by a company but hopefully by the end I will showcase that not all sponsorships are the same not all creators pursue them in a similar way and some of those ways sponsors and creators are better or worse than others today's topic involves crypto but for those less interested in crypto in particular it

primarily revolves around celebrities crypto is the most notable Catalyst right now but the actual topic is a much more established phenomenon where major companies pay money to influential people be they celebrities YouTubers twitch streamers or athletes in return for promotion AKA sponsorships the FTC contrary to what many creators seem to be aware of has fairly well defined guidelines for how YouTubers and all other forms of

internet influencers for that matter are required to disclose sponsorships and I will of course link all these resources down below but the gist of it is that anytime you get paid by a company to promote something you must disclose that relationship fully free products say it got paid say it officially paid on a consistent basis to never say bad things at all only good things gotta

openly acknowledge that and theoretically this allows for an audience to clearly identify and evaluate the content they see with full understanding that it's usually just regurgitated talking points that are completely divorced from the Creator's actual opinions knowledge or attention basically it's all about the money nine out of ten times however that's not the only way to endorse a product and the trick is in the details

today's video is going to use an example of the absolute worst way that you can run a YouTube channel and accept sponsors inversely though far from perfect this video should also demonstrate how I myself pursue sponsorships which is wildly different than our example for today and ultimately My Hope Is that this will be valuable to viewers of YouTube as they try and discern what is and

is not a negligent or harmful promotional advertisement alright before going further it's time for today's video sponsor rocket money I'm gonna level with everyone watching this right now from here on out there's going to be a few changes to how I run ads and I'd like to make it very clear at the onset rocket money has been supportive of these decisions in a way that is

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the future despite short-term uncertainty which so far has proven to be the case I use rocket money for one specific reason budgeting it can do a fair bit more than just budgeting by the way like monitor credit score Bill negotiation and canceling unwanted subscriptions but I find it to be the most successful app I have yet used for showing me all of my spending habits right

in one place and spurring the realization not a pleasant one sometimes that I can be a heck of a lot more responsible with how I spend money rocket money helps me cancel a few unwanted streaming services I think it was actually Four that were running me quite a monthly bill that needed to be gotten rid of it helped me realize just how expensive it is to

buy things at the convenience store five minutes away compared to the actual Supermarket that's just a little bit further even though everything seems to be overly expensive these days but the bottom line is I use the service myself I think it is genuinely valuable and for those Reasons I'm happy to accept them as a sponsor rocket money was formerly known as true bill it currently has

over 3.4 million individual members and if you go to rocketmoney.com ueg or click the link Down Below in the description you can get started for free premium subscriptions come with more features obviously and to reiterate one final time this will be the new format going forward for ad reads rocket money has supported me in this and their service has likewise supported me in the ever continuous

struggle of modern financial planning so thank you and make sure to use the link down below if you have any interest at all in their platform thank you to Rocket money for sponsoring the channel so what are we working with what's the example this right here this is a lawsuit filed on behalf of one Edwin Garrison which names 10 separate defendants which includes nine individuals and

one creative agency among those individuals we can see Ben Armstrong also known as bitboy crypto for today bitboy crypto is our golden standard of precisely how not to operate an online business as he Rampages across social media making threats whipping his audience into a frenzy and flogging himself through the Public Square trying to get distance from what seems to be at least in my opinion an

avalanche of cascading down on top of him like the side of Mount St Helens in 1980. suffice it to say it's good material for a video now I've already done a video about bitboy crypto once before it's a lot of context some accusations and promotions from over a year ago and a few other items of interest but the root of the issue is this bit boy

according to community analysis and specific info digging by the likes of Zack xbt and money Tour on Twitter has promoted what seems to be dozens of crypto projects that turned out to be full-scale rug pull scams here are some examples source first and cited from a thread by money's War Vox Finance downed 99 there's more to that one but I'm not currently able to do a

multi-hour version of this video so we'll leave it at that it's now 99 since promotion Eureka down more than 99 smart key down 97 mimir down even more than 99 ekami ecomi whatever that is where bit boy specifically said the potential of this project is off the charts now down massively curate 99 down where bitboy said at the time quote it is now trading at an

incredible discount of around three dollars what is it now four pennies the list goes on crowny down 96 in just one month post promo by bit boy Cirrus down 93 zdex pumped and dumped because massive YouTubers promoting micro and Nano cap scam coins has only one outcome one more okay according to analysis done by Zac xbt bitboy promoted and has now deleted the video goes for

m y x d i s t x Zao Finance which pulled an exit scam in 2020 about a week after he promoted it I believe and doesn't even exist anymore ethi another deleted video after it collapsed lock this one speaks for itself and was part of a video where he said top five picks that will definitively 100x your portfolio then deleted it when the project fell

apart cph deleted now pamp he had a Freudian slip here in that one and called it pump a couple of times now deleted and more the list continues on and on see the pattern make a claim say something will 100x in your Investment Portfolio then promote it the project turns out to be a massive scam delete the video rinse repeat not a good pattern but why

does it matter it's just a crypto bro doing crypto bro things after all why do I care why does anyone care answer because hopefully he doesn't get away with it the world of crypto is in flux right now the cftc as I write this script actually is basically trying to kill binance the largest crypto exchange outright the SEC just won a case against library is also

simultaneously suing Ripple xrp crypto institutions are collapsing left and right wiping out billions of dollars and the contagion just continues unabated and crypto influencers are scrambling to cover their asses that is a colossal shift in the regulatory Hammer is about to come down hard where does it land simple it lands wherever it needs to so that most people fall in line and that usually means a

flurry of high profile but easy targets or at least a couple of them so that the government can get some wins send a message and do the absolute minimum badly like always basically they just have to do something it just doesn't necessarily have to be the right thing or the smart thing or even the most efficient thing it's the government what do we expect still sending

a message can sometimes be scary if you are the person most likely to get squeezed in order to send that message and maybe that's not bitboy crypto this time maybe I'm way off base but let's really take a look at the situation this right here is the lawsuit alleging that bit boy crypto and a group of other influencers should be liable for their promotion of the

FTX native token ftt in simple words without rehashing the exorbitant amount of content it would take to give everyone like top to bottom rundown of the FTX situation even though it's been all over the news for a very long time now FTX created a native token and used it to facilitate an Enron level fraud scheme basically which is now blown up in their face but far

from being finished the United States government has now turned its attention to crypto almost fully seeking to either cut the industry down to size or kill it outright maybe this is because they want to release a cbdc essential Bank digital currency there's a lot of theories a lot of different things I have videos on that as well but that's the gist of it as it all

unfolds a class action lawsuit is filed a couple of them actually which Target the celebrities and YouTubers who promoted the ftt token claiming that they should be held liable for damage and losses and one of the parties named of course as we read earlier is bitboy Ben Armstrong this is is the really funny part what would everyone do if they had promoted let's say dozens of

now obvious scams rug pulls and fake projects to Their audience and Their audience verifiably lost money on all of those Investments what would you do let's put it that way would you a keep quiet and hope the case falls apart since you did seem to disclose mostly that you were paid B get defensive and puff your chest out ready to take a stand since you have

confidence that you didn't do anything technically wrong perhaps or because you are afraid that you did and you just want to try and fight back and seem tough or C harass and threaten the opposition's legal team openly fixate on a specific line about how you never talked to anyone at FTX and make the entire thing a hundred times worse obviously bitboy has gone for answer number

three because that's the fun one let's establish something right here right now according to bitboy himself quote I personally rigorously vet all paid promotions and deny 99 allowing just one percent I I also do vetting for projects for other influencers in TV broadcasting end quote and that's great to hear but just keep in mind that within about let's say five minutes of research you will find

dozens of projects that zeroed out or openly scammed the investors promoted by bitboy many of them deleted in shame soon after he takes the videos down including this little gem right here number one f t t number two four chain okay now ftt I've said before this is gonna be one of the number one coins we were going to accumulate in the bear Market but it's

got some inside info got some inside info but this thing is about to explode in the next few weeks I'm sorry what Insider info on a coming pump a pump of ftt let me get that straight Insider info on upcoming undisclosed price movement of the Native token on FTX sure man yeah that's amazing definitely you should have bragged about that keep in mind as bitboy now

faces a lawsuit over the collapse of FTX and his role in promotion of it allegedly he is claiming to online media Outlets that he has never spoken with anyone at FTX or operated as a marketing agent acting on their behalf not once Food For Thought how exactly does he have Insider info on ftt about future price movements if he never spoke to anyone Associated we have

to think here bit boy claims to deny 99 of the sponsors who approach him he claims to vet everything rigorously personally and also claims to have Insider info yet practically all of the picks he has ever made either zeroed out as a result of fraud collapsed completely or massively massively declined well and truly beyond what many of the more stable coins have done right he took

a bunch of projects he picked all the losers so it's it's one of two things either he is probably going to get in trouble over this or he's the crypto influencer with the worst track record of all time and how in the world does anyone listen to this guy we have to think here bit boy claims to deny 99 of all the sponsors who approach him

he claims to vet everything rigorously and personally and also claims to have Insider info yet practically all of the picks he has ever publicly made of the ones he didn't delete in shame after they fell apart all of the picks he's publicly made most of them either zeroed out as a result of fraud or collapsed completely meanwhile have a look at this right here we want

to use celsius and check out bitboycrypto.com deals got a great deal on Celsius for you but it's a great way to put your money to work earn passive income come and it's an especially attractive feature for Traders who plan on huddling 9 943 of a token we love for this year ftt and right now that is worth 437 thousand dollars secret token f t e that

is the token of FTX Sam bingman freed everything this man touches turns to gold I don't know Moon I think 45 to 50 is definitely reasonable for Costa for Alterra is crushing it right now Tara ego system is definitely bullish from this point forward on this channel on bibli crypto channel on the bibboy crypto all of our socials we are we are never doing sponsor content

again it's hard to explain just how perfectly bitboy is showcasing the worst possible response and believe me if anyone understands the impulse to square up and start pushing back it's me I've actually done it successfully in a similar fashion I just did it the right way just not that long ago with Mario and the fall and his stupid legal team here's a snapshot of the kind

of things he has started to do and say not just your standard posturing mind you which is totally understandable this is on a whole new level allegedly there were as many as 21 calls in a 45 minute period harassing the opposition's legal firm whether it be bit boy or someone else one of his supporters in unconnected party not sure again this is part of the counter

filing where they say that he's harassing them bitboy rallied his own supporters though we do know this by publicly fixating on juvenile insults about the opposing Council like height or penis size he called them cancer threatened to get their licenses revoked and honestly have at it man I'll be the first one to tell you that standing up to lawyers and having them fall apart like wet

toilet paper is actually one of the most satisfying things you can even do here on YouTube but damn in order to do that you have to actually be smart I won't harp on it too much but by publicly tweeting to his 1 million followers that he has done his part with a one star hateful review on the legal practice Google page the obvious underlying message in

context is hey guys you should go do this too it's a review bomb which builds a pretty solid case in combination with threats spammed emails full of profanity which he himself started tweeting out proudly and repeated phone calls that bitboy is deliberately threatening the opposition and there's no version of this where that helps him maybe it doesn't get him into trouble I don't know I'm not

a lawyer I don't look into this kind of stuff as deep as it could be but man come on can somebody tell me in the comment section if that can possibly help him how in the world does doing all of this Aid his case sponsorship is a tricky topic these days for example did everyone who promoted established titles do some sort of irreparable damage to Their

audience because the company had a marketing pitch that was crappy and borderline deceptive no of course not some creators never said a single thing about legally changing your name they just didn't put that in the ad and anyone who watched it didn't have that expectation or actually legally being a lord they didn't say that either and focused on the more honest components of having a novelty

gift that serves as a wall decoration or a talking piece with a charity component where they plant trees which was real by the way I checked contrary to what the angry mob was led to believe initially is someone who promoted one or two crypto projects that got let's say slammed by regulatory actions and crushed as a result deceptive are they deceptive or did they just get

unlucky especially if there's 10 others that are legitimate if someone really does try while getting sponsorships as a necessary part of their income to make it so that they can keep doing YouTube does that make them terrible or a bad person of course not but bit boy isn't that bitboy operated a crypto related Channel accepting enormous amounts of money to consistently promote projects that have now

gone to zero declared bankruptcy absconded with all the cash or any number of additional failure options because because there wasn't a single shred of due diligence people can disagree with me over Masterworks for example saying that it's not as good as the marketing makes it seem or claiming that the risk is higher than some creators LED Their audience to believe and they're welcome to do it

have at it criticize me all you want but how you advertise a product matters and no one can claim that I haven't done due diligence on Masterworks today I showcase an example of my sponsorship methodology in real time which I myself can even do better on of course but the important point is this crypto is like the one ring under sauron's lidless flame wreath eye regulatory

bodies are sending a message they're trying to do that and one of those messages is that unregistered Financial advice promotion of unregistered Securities and undisclosed promotions can't be tolerated undisclosed promos I guess we don't really have an example oh yes we do because in late 2022 while replying to a Critic going by the name grinding poet on Twitter bitboy said the following quote it's been an

hour LOL I'll give you ten thousand dollars if you can find and and prove an undisclosed promo they don't exist end quote gotta love that confidence not so much not long after Zach xbt posts definitive proof that bitboy crypto did in fact run an undisclosed promotion and after initially refusing to pay up because why wouldn't he bitboy finally did from they don't exist to okay here's

your money they do exist I must have forgotten to delete that one oopsie in what is possibly one of the most hilarious backpedals of all time the SEC and the cftc are currently priming the hammer they're looking for nails that stick out of the board intending to hammer them with the hammer and the crypto influencers who promoted dozens of scam tokens rug pulls and fraud schemes

self acknowledging that they did undisclosed promos publicly claiming to have Insider info on ftt while simultaneously proclaiming that they never spoke with anyone about ftt ever is a nail sticking out pretty goddamn far if you ask me regulatory bodies don't care if it happened a year or two go and that's what the crypto Bros say they're like well it happened a year ago that he scammed

everybody he's reformed now are you sure okay let's see but regulatory bodies don't care about that as long as it's within the statute of limitations and provable bitboy probably has a bit of a case on the merits by offloading the responsibility to his audience and saying it's not my fault the idiots listen to my deceptive and horrible Financial advice that's not Financial advice it's their fault

that they listen to the deceptive and horrible Financial advice it's not Financial advice but how well is that going to fly if he's locking himself into self-professed contradictions where he either had inside info according to him and obviously committed a crime of some sort I would expect where he didn't have Insider info contrary to what he claimed to his audience and obviously lied to everyone about

an investment vehicle how do you square that the ballad of bit boy is truly fascinating in his head over heels Scramble for social media clout one of his angles was going after and trashing Shark Tank Mogul Kevin O'Leary now I have no opinion on myself or the situation in his past but bitboy went on a really long tirade across social media about Kevin O'Leary being a

just he's spewing all sorts of rumors that bear no current evidence whatsoever and trust me I devoted a significant amount of time to looking for this so anybody who's talking to bitboy crypto about how Kevin O'Leary is supposedly allegedly a murderer with all this Insider info dude come to me come to me and get a real video made go to any other reputable YouTuber like what

what is this why why are we fueling this kind of insanity right now I'm just baffled let me ask all of you watching this one question when the government looks to send a message who do they pick do they pick a difficult case against a mostly reputable but maybe slightly off-based Creator who does at least a modicum of due diligence and tries or do they pick

the loudest angriest dumbest most frequently wrong not Financial advice crypto YouTuber with a huge audience who runs his mouth on investment vehicles that will make his audience 100 times their money back with diametrically opposed and contradictory claims in his social media history and a worse track record than practically anyone you could ever think of in crypto behind figures like maybe machinski bankman freed or doe Quan

like the real Heavy Hitters sometimes the simplest answer is the right one and for now a case brought against bit boy looks pretty damn simple from my perspective regardless I wanted to take this opportunity to explore the evolving world of sponsorships on YouTube because not all creators promote things the same way it's not black and white sometimes it is gray and as I make adjustments to

my own sponsor methodology these coming weeks I want to discuss what I believe will eventually become a landmark case in the world of YouTube also so yeah bit boy did try to threaten and sue another YouTuber before that blew up in his face um I have no idea what he's going to do in response to this but I'm no stranger to lawsuit threats and basically I've

already done multiple times what he's currently trying to do but actually only making worse right so he's trying to puff up his chest posture and then put on a really good defense right like that's the goal that's the dream I've already done that multiple times in my past everybody's welcome to go back in my video archive and look he's trying to do that and it's catastrophically

failing so at least I get an entertaining video out of all this it's not there yet it's not currently a landmark case or anything like that and maybe he even gets his name disassociated with FTX on this particular count but my honest opinionated prediction is that bitboy ends up as one of the sacrificial Lambs if you will reputationally drawn and quartered by some kind of opposing

legal Force such as the FTC or the SEC or anyone else for that matter as a way to send the wider influencer ecosystem a message they don't do it often but they'll do it when they have to to and my guess is that they're starting to feel like they probably have to the squeaky wheel gets the grease or in this case maybe it gets jail time

we'll see that's it if you want to support please check out the links down below locals and patreon obviously merchandise social media or the video sponsor who I was paid by I got paid to promote a product it's totally fine to do you just have to be honest about why you're doing it how you're doing it and what the product is I'll happily accept money from

them again in the future in order to pursue larger projects because that's the funding mechanism for all my different you know videos and investigations but yeah there's a couple other YouTubers as well linked down in the description but I'll cut it there and stop rambling as always thank you all for watching and have a nice night foreign [Music] [Music]