One of the biggest crypto commentators on YouTube has filed a lawsuit against a fellow YouTuber for “derogatory and harmful statements”, demanding damages.
Ben Armstrong, who brands himself as BitboyCrypto, says that Erling Mengshoel Jr., aka Etozi, posted a video on YouTube in November 2021 titled “This YouTuber Scams His Fans. .. Bitboy Crypto”. The lawsuit claims a laundry list of offenses. Video that contains defamation, emotional distress, gross interference with a business relationship or potential business relationship, a violation of the Equal Deceptive Practices Act, and a violation of the Fair Business Practices Act.
The filing said that Mengshoel “repeatedly calls Armstrong a ‘dirtbag’, stating that he is a ‘shady dirtbag’ and a ‘dirtbag YouTuber’.”
Armstrong has 1.44 million subscribers and 212 million views since launching his channel in February 2018. MengShoel has 1.23 million subscribers, 223 million views since March 2012.
The complaint and jury requisition were filed yesterday in the U.S. District Court for the Northern District of Georgia in Atlanta, which Armstrong’s legal counsel considered an appropriate location, as Armstrong lives in Acworth, Georgia, while Mengshoel lives in Sterling, Virginia. .
This is a federal lawsuit because it involves effect and damages of more than $75,000.
Mengshoel and Armstrong did not respond to requests for comment. decrypt,
However, Armstrong’s lawsuit provides a comprehensive account of Mengshoel’s comments about him.
Mengshoel says in his video, “If you don’t know what an absolute sleazy dirtbag of a YouTuber is, here’s BitboyCrypto, a prime example of which.”
Armstrong’s lawsuit claims that Mengshoel directly attacks his livelihood by saying that he is “not someone you should look to for any advice,” and that “financial advice cannot be relied upon because you don’t know.” whether he is trying to enrich you or himself.”
However, there is a contradiction between what Armstrong claims in his lawsuit and what he presents in his disclaimer online.
,[Armstrong]The business model of his depends on his reputation and his status as an ‘influencer’, i.e., a well-known online personality who influences the decisions of others such as buying or selling cryptocurrencies as an investment,” the complaint reads, Introducing the fact that he is “an industry-leading source of credible commentary regarding investing in cryptocurrencies.”
Furthermore, the lawsuit asks, “Could there be a more damaging claim to someone like BitboyCrypto who engages in the business of providing advice and commentary on cryptocurrency investments?”
But on Armstrong’s YouTube channel, he says his content is “for general information purposes only,” and cautions, “Please be advised that I am not involved in business areas involving finance, cryptocurrency, taxation, securities and commodities trading.” I am not a professional advisor, or practice of law. Nothing written or discussed should be, and should not be construed as, investment, financial, legal, regulatory, accounting, tax or similar advice.”
One of Mengshoel’s key claims is that Armstrong was paid to pitch cryptocurrency “scams” to “suckers” and that the practice would eventually attract the attention of the Securities and Exchange Commission because influencers “get that quick buck.” Can’t resist the urge to take it” and just milk your audience for some extra money. ,
While Armstrong’s lawsuit states that the allegation is “without any factual support”, a CNBC Last week’s story reported that Armstrong earned over $100,000 a month promoting the cryptocurrency, including $30,000 for the failed DistX cryptocurrency alone. “It’s an exercise he says he now regrets because it has caused some painful damage to his own audience,” CNBC wrote. Armstrong also promoted other fly-by-night projects such as Ethereum Yield, Cypherium, and the MYX Network. When those projects failed, he removed the videos from his channel.
Armstrong’s emotional state is “fragile” according to his trial, and he now suffers from “serious concern that he will be considered a criminal, a fraud, and unreliable in business or in general.” The lawsuit further states that Armstrong is “now in recurring bouts of depression about whether the defendant’s defamatory statements would harm Armstrong financially and socially and whether he would be able to recover his good reputation and business as a result.”
Ultimately, Armstrong’s lawsuit accuses Mengshoel’s video of being “a hit job, an assault piece, not some investigative report,” the lawsuit reads. “It completely lacks supporting facts – investigative journalists don’t say ‘I hate sleazebags like this, because they ruin it for everyone’.”
For his part, Mengshoel in his twitter bio describes its YouTube channel as a place to “talk about people doing dumb things on the Internet.”
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