Power of Crypto Twitter forces Bitboy to drop lawsuit

Crypto Twitter rallied around youtuber Atozy and raised roughly $200,000 for his defence against a lawsuit brought by Bitboy Crypto. Bitboy announced in a livestream of his show yesterday that he would now drop the defamation lawsuit.

A powerful community unites

The Crypto community is a powerful one when roused, and when it perceives that an injustice is taking place there is no stopping it. Many donated to a Gofundme campaign in which $53,000 was reached, and this was added to with $100,000 from crypto personality Cobie, plus other donations which came to a grand total of around $200,000.

The name ‘Bitboy’ was the highest ranking search term on Twitter yesterday, while there are already more than 20,000 tweets using the term today. 

Lawsuit dropped

Bitboy, aka Ben Armstrong, streamed a live YouTube video on Wednesday, in which he announced that he was dropping his defamation case against Atozy. He said that he had phoned his lawyer 15 minutes before going on air to inform him that he was not going ahead with the lawsuit.

The influencer said that he “was just trying to do the right thing”, and he admitted that Atozy had won and that he was the loser, but he wanted Atozy to take “the wrong parts” out of the video. He said of the video:

“I’m not suing someone over their opinion. I’m not suing someone because they bad-mouthed me. If I did that I would have non-stop lawsuits going around the clock. This was one that ‘we’ felt like was very, very damaging to ‘us’ long term”

Opinion

No doubt Armstrong will be hoping that this will now all go away. The amount of damage done by the bad press from the lawsuit can only be guessed at, and it may indeed take a long time before the crypto community restores trust.

Foisting a lawsuit onto a fellow youtuber who could ill afford to defend himself is one thing, and demanding $75,000 in reparation for “emotional distress” is another. 

Bitboy has learned a very valuable lesson and it is hoped that he will take it extremely seriously. Bridges need to be rebuilt and this can only be done by espousing complete transparency in all dealings with third parties. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.