Ben Armstrong, aka (BitBoy Crypto), reportedly sold all his BEN tokens a week after committing to not selling for six months.
On-chain sleuth Amir Ormu first revealed this, sharing an address that was doxxed by Bitboy when he initially promised not to sell. According to Ape’s Prologue, the influencer made 44.7 ETH — worth $80,000 — from the said transaction.
BEN, a memecoin, capitalized on the hype surrounding other popular meme assets like PEPE, WOJAK, etc. The token immediately generated interest from the community due to Bitboy’s endorsement, which came after eth_ben gifted him a considerable amount of coins.
This generated concerns that Bitboy would immediately dump the token. At the time, he committed to not selling for six months but said he would not be locking the coins because he wanted to piss off those who called him “a grifter, scammer, dishonest & a P&D’er.”
BitBoy defends its action. Following the disclosure that he sold, Bitboy said he made a deal with eth_ben to sell his original token allocation. The agreement is for him to get 1000 ETH and $250,000 in stablecoins paid over six months.
According to Bitboy, a new meme token backer needs help moving funds from traditional accounts. This, in his opinion, explains why the deal is yet to be official.
By the time the deal was done, he had claimed that the Ben Coin Foundation would hold 106 trillion tokens that could only be sold once the token hit a market cap of $500 million.
However, several crypto community members consider his explanation far from the truth. There are also speculations that eth_ben dumped the token on Bitboy, while some claim he paid Bitboy to shill the token.
Following the drama, the BEN token value has dropped 11% in the past 24 hours to $0.00000007333, and the token market cap is now at $30.8 million, according to CoinMarketCap data.
