**Former BitBoy Influencer Arrested for Loitering**
This week, the crypto community was captivated by the arrest of Ben Armstrong, a former influencer for the BitBoy brand. Armstrong spent eight hours in jail for loitering after a confrontation with a police officer that was broadcast on a YouTube livestream. The incident gained attention after being shared online but has since been taken down. Scam investigator Coffeezilla criticized Armstrong’s behavior as “unhinged.”
**Controversy Surrounding Armstrong’s Firing and Donation Request**
Armstrong’s arrest follows his dismissal from the BitBoy brand, which sparked controversy in the crypto community. Last Friday, he asked his supporters for donations denominated in Ripple’s XRP token to aid in his legal battle against BitBoy owner HIT Network. This request was met with criticism, especially considering allegations that Armstrong had over $80 billion worth of XRP in his possession. He claimed to have lost all of his XRP due to a decision made by his CFO to invest in Celsius.
**BitBoy Loses Another Influencer**
In addition to Armstrong’s firing, HIT Network also lost another influencer named Frankie Candles. Candles announced on social media that he had parted ways with the BitBoy brand on amicable terms. Despite the tensions between HIT Network and Armstrong, Candles expressed support for his former colleague and hoped to continue working with the network.
**SEC Chair’s Testimony Omits Ripple Ruling**
During a congressional hearing on Wednesday, SEC Chair Gary Gensler discussed the SEC’s oversight of the crypto market. He emphasized that most crypto tokens are considered securities under existing laws. However, he failed to mention a recent court ruling that determined certain sales of Ripple’s XRP did not violate securities law.
**Ripple Appoints US Policy Chief**
Despite its legal victory against the SEC, Ripple is focused on strengthening compliance for its US operations. The company recently hired Lauren Belive, a former White House official, as its head of US public policy and government. Ripple aims to advocate for policies that support the crypto industry and benefit individuals and businesses.
**Analysts Predict Potential Downside for Ethereum**
Some analysts have raised concerns about Ethereum (ETH) following a transfer of 400 ETH by co-founder Vitalik Buterin to Coinbase. Speculation suggests that this move may indicate an impending selloff. Negative funding rates for ETH derivatives have also contributed to pessimism about its short-term price outlook.
**Google Adds Support for Multiple Blockchains**
Google announced that its BigQuery platform will now provide access to data from ten blockchains, including Polygon, Optimism, and Polkadot. This development allows companies to directly access network data from the blockchain itself instead of relying on off-chain providers. Google’s decision reflects its commitment to blockchain technology and meeting the needs of the crypto community.
**Hot Take: Reflections on a Week of Crypto Drama**
This week in the world of crypto has been filled with drama and controversy. From the arrest of former BitBoy influencer Ben Armstrong to the SEC Chair’s omission of the Ripple ruling in his testimony, there has been no shortage of attention-grabbing headlines. The industry is buzzing with discussions about compliance, legal battles, and the future of cryptocurrencies like XRP and Ethereum. As the crypto community navigates these challenges, it is clear that transparency, accountability, and responsible regulation will be key factors in shaping the future of this rapidly evolving space.
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