Ben Armstrong, also known as bitboy crypto is taking over the leadership of the “BEN” token project from crypto and twitter influencer – “ben.eth”
All the details have not been made public yet, which is exactly as things should be before a deal is finalised, but what we do know so far is –
Bitboy is ready to finalise the deal with ben.eth right now, but a few things still need to be sorted out to complete the deal from ben.eth and bitboys investors in the project
BEN token’s liquidity for the token is being supplied by an unknown third party investor, who obviously is well known to bitboy and has enough faith in the project to put his money where bitboys mouth is.
For this unknown persons investment, it appears that Ben Armstrong’s backer will receive 50% of the BEN project profits and the liquidity provider proceeds.
The Ben token price is at the moment increasing in value substantially considering all the coverage on twitter and the media. It is unclear as the price of the token continues to rise, does bitboy’s buy price now also increase or has that project buy price been locked in. At this point in time bitboy appears to be relying on the honesty of ben.eth to honour his handshake agreement and not re-nig on the deal as the value of Ben token increase.
To be fair, it has not been a one way movement for the price of the Ben token. In its short life its price has moved from around 0.0000000009 up to a high of around 0.000006 and now sits at 0.000000065. The token is up 10% today, with a 24hr volume of around $13.5m. The token total supply is 406690.B Ben and has a current total marketcap of $27m. The token liquidity does not appear to be locked with 15600 token holding addresses.
ben.eth the founder of the BEN Token currently holds 20% of the total token supply and this will be transfered to Bitboy as part of the deal. This deal appears to be between ben.eth and the commercial business entity of Bitboy Crypto, not necessarily Ben Armstrong as an individual. The exact makeup of the new company to control and own the Ben token project has not yet been made public, as they themselves still seem to be hashing out the details.
So why would Bitboy decide to buy the Ben Token Project from ben.eth and not just start his own token project? He obviously knows how and has the resources and connections to very successfully do so.
Ben Armstrong explains that one of the main drivers of this decision is to avoid confrontation with the SEC. The current regulations and rulings at this time are not entirely clear on a clear and proper way to launch a new crypto project. So with this in mind Bitboy is not starting a project, but buying an existing project and business entity, which was started by a third party,thereby greatly removing the risks of getting on the wrong side of the SEC. Bitboy would obviously have a large target on his back, being a major crypto industry player and outspoken critic of the SEC and its leadership team.
Bitboy is trying to run a crypto token project which is SEC compliant and this may explain one of his reasons for moving this way by purchasing an existing project and business entity. There will be changes to the project, such as the Ben logo as well as building out real utility for the project.
Bitboy intends to build the brand Of “BEN” into a major cryptocurrency powerhouse and confidently predicts that it will reach the top 50 crypto token list by marketcap. He obviously as the new project owner has great expectations and enthusiasm for the project, as you must have if you wish your project to succeed.
As Bitboy reminds us, these remarks are his enthusiastic beliefs as a new owner of the business and not a promise of future profits or pumping of the project in any way. DYOR, do not invest more than you can afford to lose, and make your own decisions about the BEN project.
BEN token project moving forward does not have a set in stone plan as yet, as things are very fluid and moving quickly.
To be fair,he is not even in charge of the project at this point in time.
Some of the vision Bitboy has for the project is that it will become a leader in the crypto space in the areas of media, advertising and advocacy of his core beliefs on behalf the crypto community. Bitboy has shown he knows how to do this with his current massive youtube channel, twitter followers and his moving into the political arena with his current cryptocurrency bill.
Whether you like Ben Armstrong or not, you have to hand it to him. When he believes in something he has a full crack at it and gives it everything he has to offer. These are some of the characteristics needed by a leader and judging by his following Ben Armstrong is a leader. Where he is leading his followers is yet to be decided, this is still a work in progress.
Note : when referring to Bitboy in this article we refer to the business entity – Bitboy, not necessarily Ben Armstrong in his personal capacity. This article has been written to try and present the facts as we know, them as of today, to the reader. Speculation in new crypto projects is always risky, DYOR.
