2024-10-31 09:45 |
With over 320 million subscribers, James “MrBeast” Donaldson has amassed one of the largest audiences on YouTube.
Known for his attention-grabbing content, MrBeast’s involvement in crypto projects has recently come under scrutiny, as blockchain analysts reveal evidence of alleged insider trading and token manipulation.
On-chain analysis links MrBeast to over 50 crypto wallets, suggesting he and his network profited from low-cap tokens through strategic promotions and high-volume trading.
Recent reports allege that MrBeast earned over $23 million from controversial crypto promotions, igniting debates on the ethical boundaries of influencer-led financial endorsements.
His suspected crypto earnings include profits of $11.45 million from SUPER, $4.65 million from ERN, and substantial returns from other tokens.
Experts assert that MrBeast may have influenced market dynamics by promoting and dumping tokens, leaving followers to bear the financial brunt.
$10M profit from insider trading?Advisory firm Loock.io, along with analysts such as SomaXBT, accuse MrBeast of leveraging his influence to drive up token prices.
According to their research, he made approximately $10 million through trades in low-cap tokens.
Loock.io claims that these profits stem from “insider trading practices,” where Donaldson allegedly hyped tokens on social media and cashed out at peak prices.
The report further explores how influencers with extensive followings can manipulate crypto prices and investor behavior.
MrBeast’s $7.5M jackpot from token promotionsSuperVerse, formerly known as SuperFarm, reportedly yielded one of MrBeast’s highest crypto gains.
According to the investigation, MrBeast invested $100,000, which escalated to $7.5 million as he actively promoted the token to his followers.
Despite removing many promotional posts, MrBeast remains a follower of SuperVerse on social media, suggesting his continuing connection with the project.
Other influencers, including KSI, reportedly followed similar promotional patterns, resulting in substantial earnings estimated at around $10 million combined.
Kasper Vandeloock@KasperLoock·FollowAn investigation into @MrBeast‘s crypto activities and how he profited over $23M from a multitude of scams, shady deals & his network in collaboration with @hxnterson @angelfacepeanut @somaxbt @rfparson loock.io/blog/mrbeast-i…
4:30 PM · Oct 30, 20241.6KReplyCopy linkRead 165 repliesBlockchain sleuths linked MrBeast’s alleged crypto activities to nearly 50 wallets, providing substantial data to support claims of coordinated promotions and withdrawals.
The on-chain data, combined with Donaldson’s Ethereum address disclosures, links him to key wallets that were active during price surges in promoted tokens.
Blockchain tracking platforms have since monitored these wallets, shedding light on the extent of influencer involvement in crypto trading.
The trend of influencer-led crypto investments has often resulted in substantial losses for retail investors, with tokens plummeting post-promotion.
Known as the “celebrity grift” in crypto circles, this cycle frequently leaves enthusiasts holding undervalued assets as influencers exit.
MrBeast’s case highlights concerns surrounding influencer-driven crypto endorsements, as such promotions can significantly sway token prices before influencers sell their shares.
The post YouTuber MrBeast accused of profiting millions through alleged crypto pump-and-dump scheme appeared first on Invezz
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