Kevin O'Leary Wins $2.8 Million Lawsuit Against Bitboy Crypto
Here is the complete story The roots of the conflict lie in a 2019 boating accident on Lake Joseph in Ontario, Canada. A boat owned by the O’Learys struck another vessel, resulting in the deaths of two people. The Reality: Kevin O’Leary was a passenger. His wife, Linda, was at the helm. After a high-profile 13-day trial, Linda was fully exonerated in 2021 when the court found the other boat was operating without its lights on in the middle of the night.The Aftermath: Despite the legal clearance, the event haunted O’Leary for years. He faced temporary loss of income, pauses in Shark Tank production, and significant emotional strain on his family. Years later As Ben Armstrong’s own "BitBoy" media empire was collapsing due to internal legal battles and personal scandals, he launched a campaign of harassment against O'Leary on social media (specifically X). The Falsehoods: Armstrong fired off a series of posts calling O’Leary a "real-life murderer" and claiming O’Leary "paid millions to cover up" his role in the 2019 accident.The Escalation: In a move that the court later deemed "malicious," Armstrong doxxed O’Leary by posting his private cell phone number to millions of followers, urging them to "call a real-life murderer."The Result: O’Leary was flooded with "rabid" phone calls and death threats, forcing him to increase his personal security spending by an estimated $200,000 per year. In March 2025 O’Leary filed a defamation and harassment lawsuit in the Southern District of Florida. The Default: Throughout the proceedings, Armstrong failed to provide a substantive legal response. While he was dealing with other legal issues and a brief stint in jail for harassing a different judge in Georgia, he ignored the O'Leary case.The Defense Attempt: In January 2026, Armstrong tried to set aside the default judgment, claiming his lack of response was due to mental health issues, including bipolar disorder and a rare condition called Cotard’s syndrome (the delusion that one is actually dead). U.S. District Judge Beth Bloom rejected Armstrong’s excuses, noting that he had been properly served and simply chose not to participate until it was too late. The judge awarded O’Leary a total of $2,828,000 in damages: $750k for emotional distress and mental anguish.$78k for damage to his professional reputation.$2M in punitive damages (intended to punish Armstrong for "actual malice"). That's it.
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According to Kerstin Lysholm (Head at Danske Bank) Customer demand has increasedRegulation has improvedThe market has maturedMiCA regulation↳ (Markets in Crypto-Assets Regulation)
THE BIGGER PICTURE • Denmark had ~70,605 crypto owners ↳ (~1.2% of the population) • Ranked 84th globally in adoption ↳ (Chainalysis 2025 report)