Bitboy founder set to sue Celsius

In this post:

  • Bitboy founder wants to sue Celsius
  • Ben Armstrong says he can’t pay his down loans
  • Celsius is presently in a bad condition

Bitboy founder Ben Armstrong is currently threatening a civil action lawsuit against Celsius and its top executives. This is coming a few weeks after he was involved in a Ask Me Anything on the platform with Celsius CEO Alex Mashinsky. The Bitboy CEO took to the microblogging platform Twitter to make the threats, detailing the whole issue in a thread.

Bitboy founder says he can’t pay his down loans

According to his thread, the issue started after he was not allowed to pay his loans with funds already on the platform. In his detailed statement, the YouTuber mentioned that he was required by the platform to send in new funds before his loans could be cleared off the platform. He said that he was informed of the update by his account representative on the platform, and after much inquiry, he was met with disappointing news.

Now he believes that Celsius is insolvent, and he is not in high spirits to send them more money despite having funds in his account. However, the Bitboy founder has noted that he is looking through every detail and document to determine how best the approach of a lawsuit will be if he is to take one eventually. Armstrong is still the only plaintiff in the case, with the YouTuber communicating the addition of more plaintiffs in the coming days.

Celsius is presently in deep waters

Ben Armstrong’s crypto channel boats of one of the highest subscribers regarding crypto content. Presently, it houses the second highest subscribers for a channel focused on crypto across the world, with more than 1.4 million users. The channel has been subjected to criticism over the last few years as some people have branded it dubious. According to them, the founder has received payments to float fake events and untrustworthy cryptos in the last few years.

The Bitboy founder is presently in regret for letting things go on for too long. Celsius is currently in deep waters as analysts feel it is either fighting off bankruptcy or has been grossly affected by the bearish market conditions. Celsius announced some days ago that users would cannot withdraw their funds. The platform is also paying off loans worth about $300 million. If Celsius automatically pushes for insolvency, it will push for a shelter, eliminating any case against the company.

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