TJ Shedd Discusses the Removal of Ben Armstrong from BitBoy Crypto

In this article, you will delve into the details of the interview between TJ Shedd, the CEO of Hit Network, and Ben Armstrong, the former CEO of BitBoy Crypto. The article outlines the reasons behind Ben’s removal from the company and addresses various allegations, such as misappropriation of funds, substance abuse, and sexual assault/harassment. It also discusses TJ’s intentions with the interview and touches on topics such as trademarks, the involvement of Carlos Diaz, donations to Ben, and the future of Discover Crypto. The article provides a comprehensive overview of the interview, offering insight into the tumultuous relationship between TJ and Ben and shedding light on the decisions that led to Ben’s departure from the company that they had worked so hard to build together.

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Background Information

Introduction to TJ Shedd and Ben Armstrong

TJ Shedd and Ben Armstrong first met in 2018 through Instagram and Twitter. At that time, there were only a few people creating crypto content on social media, and they quickly connected and started engaging with each other. They bonded over being Falcons fans and realized that they both had a strong work ethic and big ideas. This led to a close friendship and a business partnership.

The growth of BitBoy Crypto

Ben Armstrong had his own YouTube channel before TJ Shedd joined him in 2020 to help scale the channel into a business. With their combined efforts, BitBoy Crypto experienced significant growth and reached the milestone of 1 million subscribers. They both had a passion for crypto and educating others about it, which contributed to the channel’s success.

Erosion of the relationship between TJ and Ben

Unfortunately, the relationship between TJ Shedd and Ben Armstrong started deteriorating in the summer of 2023. There were instances of anger and blow-ups, causing tension between them. These conflicts led to a strain in their friendship and business partnership.

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Reasons for Removal

Material harm and liability to the company

One of the main reasons for Ben Armstrong’s removal from BitBoy Crypto was the material harm and liability he was causing to the company. TJ Shedd had to make the difficult decision to protect the company and its employees from the negative consequences that Ben’s actions were having. This decision was made in the best interest of the company’s long-term success.

Ownership percentages and decision-making

Another factor in Ben’s removal was the ownership percentages and decision-making within the company. Ben owned 67% of the company, while TJ owned 33%. This unequal ownership structure created challenges in decision-making and caused friction between the two parties. TJ had to take action to ensure that the company could move forward and make decisions in a more balanced and effective way.

Allegations of personal issues

In addition to the material harm and ownership disputes, there were also allegations of personal issues against Ben Armstrong. These allegations included gambling problems and substance abuse. These personal issues were impacting Ben’s behavior and ability to effectively contribute to the company. TJ Shedd had to consider the overall well-being and reputation of the company when making the decision to remove Ben.

Public Interview

TJ’s intention for the public interview

TJ Shedd’s intention for the public interview was to address the allegations and provide clarity on the situation. He wanted to present his side of the story and address any misconceptions or misinformation that may have been circulating. He hoped that by sharing his perspective, he could shed light on the decisions that were made and provide a better understanding of the situation.

Awkward conversation and emotional stress

During the public interview, there was an awkward conversation between TJ Shedd and Ben Armstrong. The tension and emotional stress were palpable, making it difficult for both parties to effectively communicate. The interview became emotionally charged, and it was clear that the relationship between TJ and Ben had reached a breaking point.

Proposal to go to the woods for a week

In an attempt to de-escalate the situation and relieve some of the emotional stress, TJ Shedd proposed the idea of going to the woods for a week with Ben. This getaway was meant to allow them to take a break from work and not make any major decisions in the heat of the moment. TJ suggested going to Ben’s uncle’s hunting property in Kentucky as a location for this retreat.

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Discussion about Ben’s personal life

During the interview, TJ Shedd had to address Ben’s personal life, specifically his relationship with Cassie. Many employees were aware of this relationship, and it was causing tension within the company. While Ben did not want any input on his personal life, it was necessary for TJ to address this issue to ensure a healthy work environment for all employees. Unfortunately, this discussion resulted in Ben becoming angry and threatening TJ.

Negative reaction and threats

Following the interview, there was a negative reaction from Ben Armstrong and his supporters. Ben made threats and became increasingly confrontational, which added to the strain between the two parties. TJ Shedd found himself in a challenging position, trying to navigate the aftermath of the interview while also protecting himself and the company from further harm.

Removal and Allegations

Signing a provision to buy back shares and remove Ben

In order to remove Ben Armstrong from the company, TJ Shedd had to sign a provision in the operating agreement to buy back Ben’s shares. This was a necessary step to protect the company and ensure its future success. By removing Ben from the company, TJ was able to make decisions that were in the best interest of the company and its employees.

Accusations of embezzlement

Ben Armstrong accused TJ Shedd of trying to take control of the company through embezzlement. However, TJ denied these allegations, stating that Ben was taking an owner’s draw and withdrawing funds from the company. TJ Shedd made it clear that there was a clear separation between personal and company finances, and the allegations of embezzlement were unfounded.

Denial of embezzlement and explanation of fund withdrawals

TJ Shedd further clarified that the withdrawals made by Ben were not embezzlement but rather owner’s draws. These funds were taken by Ben as his share of the company’s profits. TJ emphasized that these transactions were properly documented and transparent. It was important to address these allegations and provide an explanation to clear any misunderstanding.

Allegations of mismanagement of funds

Ben Armstrong also alleged that TJ Shedd’s father, the CFO of the company, had mismanaged funds. However, TJ denied these allegations, stating that his father and himself had separate professionals handling financial matters. TJ Shedd wanted to assure stakeholders and the crypto community that the company’s financial management was handled by qualified professionals.

Separate professionals handling financial matters

To ensure transparency and proper financial management, TJ Shedd explained that his father and himself had separate professionals handling financial matters. This separation of responsibilities helped mitigate any conflicts of interest and maintain the integrity of the company’s financial operations. By entrusting these professionals, TJ was able to focus on running the company effectively.

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Addressing Sexual Assault/Harassment Allegations

Verification of allegations by witnesses

During the interview, TJ Shedd addressed the allegations of sexual assault and harassment against Ben Armstrong. He confirmed that these allegations had been verified by witnesses. This was a serious matter that needed to be addressed and taken seriously. TJ emphasized the importance of creating a safe and respectful work environment for all employees.

AJ’s departure and support for Ben

TJ Shedd mentioned AJ, an ex-employee of Hit Network, who chose to support Ben. While TJ had not yet had a conversation with AJ about it, he acknowledged that people may have differing opinions and loyalties. TJ respected AJ’s decision but emphasized the need to focus on the facts and address the allegations against Ben with fairness and impartiality.

Clarification of relationship with Carlos Diaz

TJ Shedd clarified his relationship with Carlos Diaz, who was mentioned in leaked audios and interviews. Carlos Diaz was an investor, community member, and friend to Ben Armstrong, but he was not an employee of Hit Network or BitBoy Crypto. TJ wanted to ensure that the distinction was clear and that there was no confusion regarding Carlos’s involvement in the company.

Denial of stealing Ben’s son’s channel

There were rumors circulating about TJ Shedd stealing Ben’s son’s YouTube channel. However, TJ firmly denied these allegations. He stated that he was open to resolving any issues regarding the channel and other assets and was committed to addressing any concerns or misunderstandings. The focus was on moving forward and finding a resolution that benefited both parties.

Professionals handling tax matters

In response to Ben’s accusations of mismanaged taxes, TJ Shedd clarified that professionals were handling tax matters for the company. This ensured that all tax obligations were met and minimized the risk of any improper handling of funds. TJ emphasized the importance of following proper procedures and maintaining financial transparency.

Criticism of Ben’s donation requests

During the interview, TJ Shedd criticized Ben Armstrong for asking his followers to donate money for the lawsuit. He felt that this was not necessary and questioned the intentions behind these donation requests. TJ made it clear that he did not need the money and that his focus was on moving forward and providing positive content and education in the crypto space.

Moving Forward

Commitment to positive content and education in crypto

Despite the challenges and controversies, TJ Shedd reaffirmed his commitment to producing positive content and educating the crypto community. He acknowledged the importance of fostering a healthy and supportive environment in the industry. TJ believed in the potential of crypto and was dedicated to sharing his knowledge and experiences for the benefit of others.

Expansion plans for Discover Crypto

Looking ahead, TJ Shedd envisioned Discover Crypto expanding its collaborations, content, and presence on various social media platforms. He saw great potential for growth and development in the crypto space and wanted to capitalize on those opportunities. TJ’s goal was to continue providing valuable and informative content to his audience while staying true to the core values of the company.

In conclusion, the removal of Ben Armstrong from BitBoy Crypto was a difficult decision driven by a combination of factors, including material harm to the company, ownership disputes, and allegations of personal issues. The public interview provided an opportunity for TJ Shedd to address these allegations and shed light on the situation. Moving forward, he was committed to maintaining a positive and educational approach to crypto content while expanding the reach of Discover Crypto.

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