Ben Armstrong is one of a small number of social media influencers who admits to having second thoughts about sponsoring cryptocurrency projects and talking about them.
Ben Armstrong Feels Bad About Past Endorsements
Armstrong has been actively participating in the activity for a number of years. On YouTube, he is regarded as one of the most influential people in the cryptocurrency space. At the time of this writing, he has more than 1.5 million subscribers, and for a considerable amount of time, he received payments from crypto firms and projects that were eager to hand over cold, hard cash if he could say a few words here and there about them on his channel. At the same time, he has amassed more than 1.5 million subscribers, and at the same time, he has accepted payments from crypto companies and projects, he has amassed more than 1.5 million subscribers
Now, Armstrong is going through a crisis of conscience, and he is reducing the amount of time he spends talking about cryptocurrency because many of the projects he has championed in the past have turned out to be phony or not very good. After putting their money in businesses or initiatives he’s spoken about, a good number of his viewers have been forced to deal with horrific and unpleasant losses, and he doesn’t appreciate having that on his record since it reflects poorly on him.
One example of a poorly executed promotion includes the company that he was working for at the time, which was named DistX. In the course of his promotion of the company, he referred to the corporation as his “trusted currency,” but it turned out that the scheme was a hoax. Many of his viewers lost a significant amount of money as a result of an investment that turned out to be fake, and the team that was participating in the project pulled a rug out from under them. It was a heartbreaking scene to take in, and Armstrong feels a great deal of responsibility for what happened.
In an interview, he was quoted as saying:
When he first started out, things were going pretty well for him monetarily. He added that there were instances when he would collect as much as $30,000 just for participating in one promotion. However, it was nothing out of the ordinary for him to collect up to one hundred thousand dollars per month as a result of his participation in crypto advertising.
However, since then he has utilized a significant portion of the money he has acquired as a result of his activities to reimburse all of his viewers who may have lost money on the projects and coins he pushed. While Armstrong is currently distancing himself from the ever-expanding world of cryptocurrency marketing, he claims that a large number of other influencers continue to accept payments and money for participating in ineffective promotions. This makes him concerned about the amount of illegal activity that takes place within the industry.
There Are Some Dishonest People
Armstrong made it abundantly obvious in several of his videos both the amount of money he was receiving and the fact that he was not acting in the capacity of a financial advisor. On the other hand, Joe Rotunda, who directs the enforcement office of the Texas State Securities Board, claims that a large number of other influencers do not adhere to the same rules. In a statement, he mentioned the following:
Keywords: Brian Armstrong, cryptocurrency, and influential people