YouTuber Bitboy Crypto Founder Files Lawsuit against Hit Network CEO and Father for Removing Him from Company
YouTuber Ben Armstrong, formerly known as “Bitboy,” has taken legal action against Hit Network CEO Timothy “TJ” Shedd Jr. and his father Timothy Shedd Sr., accusing them of ousting him from the media company he established in 2018. The lawsuit, filed in Georgia, also involves corporate entities BJ Investment Holdings (BJIH) and TJSJ Holdings. Armstrong remains the majority shareholder of BJIH, which owns Hit Network and the YouTube channel originally named Bitboy Crypto. The suit alleges that the Shedds conspired to steal the company, locked Armstrong out of accounts, and misused company funds for personal gain. Armstrong is seeking damages, an injunction, and control of the parent company and its assets.
Allegations of Assault and Drug Use
The termination letter Armstrong received claims he physically assaulted and verbally abused TJ Shedd, as well as used illegal substances and steroids at work. Armstrong acknowledged using steroids in a voice recording but denied allegations of hard drug use. The lawsuit does not directly address these allegations but argues that the termination letter and other documents used to remove Armstrong were unauthorized. Armstrong later released a video apologizing for his actions and admitting to an affair but maintained his denial of hard drug abuse.
Rebranding and Public Support
Despite the lawsuit, Shedd and the Hit Network rebranded the Bitboy Crypto YouTube channel to “Discover Crypto” and published a video announcing the name change. Many viewers expressed support for Armstrong and criticized his removal from the company. Armstrong declined to comment on the matter, while Shedd did not respond to requests for comment.
Hot Take: Bitboy Crypto Founder Takes Legal Action Against Hit Network CEO and Father
YouTuber Ben Armstrong, also known as Bitboy Crypto, has filed a lawsuit against Hit Network CEO Timothy Shedd Jr. and his father, Timothy Shedd Sr., accusing them of unlawfully removing him from the media company he founded. Armstrong remains the majority shareholder of the parent company and alleges that the Shedds conspired to steal the company and misused its funds. The lawsuit also addresses allegations of assault and drug use made against Armstrong in a termination letter. Despite the legal action, the Hit Network rebranded the YouTube channel, prompting support for Armstrong from viewers. The outcome of the lawsuit remains to be seen, but it marks a significant development in the ongoing dispute between Armstrong and the Shedds.
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