BitSquad Member Bails as BitBoy Drama Boils Over

Frankie Candles opted to call it quits following ongoing tensions between Ben Armstrong and Hit Network CEO TJ Shedd.

Frankie Candle infront of a collapsed, smoking building.
Created by Gabor Kovacs from DailyCoin
  • Frankie Candles quits the Hit Network as tensions boil.
  • Candles intends to pursue his own channels. 
  • The Hit Network has rebranded in a bid to move on.

Rivalry and infighting have become hallmarks of the cryptocurrency influencer sphere as competing personalities vie for followers and clout. The landscape grew even more volatile last month with the shocking ousting of crypto personality Ben Armstrong from the BitSquad after tensions with Hit Network CEO TJ Shedd reached a breaking point.

The incident has since spiraled into an all-out public feud, resulting in Armstrong’s arrest outside the home of his former business partner on September 25. With tensions frayed, fellow BitSquad member Frankie Candles announced his departure from the Hit Network in a raw post detailing his reluctance to pick a side in the dispute. 

BitSquad Member Down

Candles tweeted candidly about his stance on the unfolding drama between Armstrong and Shedd. Candles expressed deep respect for both men and explained that he feels conflicted and trapped by the feud, leaving him no choice but to part ways with the Hit Network.

“With all this drama I’m faced with very hard decisions. It was extremely hard work to build what we have today. I’ve sacrificed sleep, health, time with my family etc… to make this happen”, Candles remarked.

The former BitSquad member expressed his immense gratitude for the opportunity the Hit Network granted him. Candles recalled joining the company in 2021 as an eager fan, getting the chance to live out his dream job by traveling the world vlogging, making cherished memories with top creators, and having the freedom to pursue his passion openly. 

While he says his departure from the Hit Network was a tough call, Candles appears dead set on forging his own path after revealing that Shedd had signed over full ownership of the Frankie Candles brand as part of his exit. Candles vowed to run with the opportunity and deliver the best crypto content he can. 

In response to Candles’ post, Armstrong left a telling comment. While expressing support, Armstrong disputed that Shedd granted Candles full ownership. Instead, Armstrong claimed this would only happen when he regained control of Hit Network.

“Happy for Frank. Also, I approve this decision so when I take back over Frank will get to keep his channel 100%. I’ve been pushing for this. Signed, Still trying to unplug but it’s hard when such good news happens to your friend”, commented Armstrong.

The disputed details around Candles’ ownership transfer highlight the broader power struggle for control of Hit Network amid Armstrong’s bitter removal amid a string of controversies. 

BitBoy Booted

In late August, tensions boiled over with the Hit Network firing Armstrong amid allegations of substance abuse, questionable memecoin promotion, and physical and financial mistreatment of staff.

Armstrong swiftly disputed the claims, instead accusing Shedd and fellow Hit Network co-founder Justin Williams of orchestrating a coup to seize control of the company he helped build.

Nonetheless, the Hit Network officially rebranded to Discover Crypto on September 28 to move on from the debacle. The accompanying press release did not mention the ongoing drama, instead focusing on framing its vision to bring crypto education to beginners.

On the Flipside

  • While Discover Crypto is looking to move forward without Armstrong, it appears Armstrong intends to retake company control.
  • Candles’ account of his experience at Hit Network portrays the company, Armstrong, and Shedd positively.

Why This Matters

The recent BitBoy feud has brought to light influencer networks’ inner workings, underscoring crypto brands’ fickleness. Consequently, being mindful of the underlying motives of crypto influencers is a must.

Learn more about BitBoy’s arrest outside Carlos Diaz’s house here:
BitBoy Put Behind Bars on Partner Assault Charge

Discover why Pepe surged despite ongoing memecoin stagnation:
Pepe Finally Overcomes Slump to Pump 33%

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Samuel Wan

Samuel Wan is a finance professional turned crypto journalist, known for his insightful reporting on market trends, regulatory changes, and technological developments within the digital asset industry. His ability to simplify complex concepts and report the facts has made him a trusted source in the crypto community. Beyond his writing, Samuel is an active mountain biker and gamer.