Crypto influencer Ben Armstrong was arrested on Monday after an apparent confrontation with his former business partner, part of which was live-streamed on X, formerly Twitter.
An online record at the Gwinnett County Sheriff’s Department site shows one “Benjamin Charles Armstrong” was arrested for “loitering/prowling” and for “simple assault by placing another in fear” with a bond amount of $2,600.
Armstrong was apparently carrying a loaded weapon in the “backseat of his car,” and was traveling with one other person, a live-stream snippet on X showed.
BEN tokens, floated by Armstrong earlier this year, dropped 30% as reports of the arrest leaked early on Tuesday.
Armstrong was previously ousted from his media company, BitBoy Crypto, following a unanimous decision, as per an August announcement, which likely led to Monday’s altercation.
UPDATE (Sept. 26, 07:38 UTC): Updates headline.
UPDATE (Sept. 26, 08:54 UTC): Adds charges and bond amount in second paragraph.
Read More: Ben Armstrong Apparently Arrested, BEN Plunges 30%