MrBeast Allegedly Makes $9 Million In Crypto Profits

MrBeast has recently faced scrutiny over his involvement in dubious crypto projects. On Friday, October 11, a crypto investigator, SomaXBT, looked on-chain to reveal MrBeast's supposed involvement in several projects.

Influencers have been a part of the crypto scene for as long as there have been influencers, and their involvement has always been a subject of controversy. Many, including the likes of Logan Paul, Caitlyn Jenner, and Andrew Tate, have made millions promoting questionable projects.

Most recently, the biggest YouTuber on Earth, Jimmy Donaldson, also known as MrBeast, has been accused of making millions from potential pump-and-dump schemes. This has raised ethical concerns over celebrities making a buck at the expense of their followers.

MrBeast’s Allegedly Makes $9 Million In Crypto Profits

MrBeast has recently come under fire for his alleged involvement in dubious crypto projects. On Friday, October 11, a crypto investigator, SomaXBT, took to Twitter to reveal MrBeast’s supposed involvement in several projects.

1/ An investigation into @MrBeast ,how he allegedly made $10M+ by backing low-cap IDO crypto tokens promoted by influencers like Lark Davis, CryptoBanter, KSI, and others. Many of these projects are now down over 90%, with some rebranding after major losses.

SomaXBT looked into a wallet labeled MrBeast by the blockchain analytics platform Arkam Intelligence. The company uses advanced algorithms to label wallets based on publicly available data, transaction histories, and more.

According to SomaXBT, MrBeast made over $10 million in profits from tokens such as SuperFarm (SUPER), Polychain Monsters (PMON), and SPLYT (SHOPX). Notably, many of these projects crashed shortly after he allegedly sold them off.

How MrBeast Aggresive Sales Crashed Tokens

The biggest instance involves SuperFarm, in which MrBeast invested $100,000 during its initial dex offering (IDO) in February 2021. By March, he had sold off all of its tokens, netting him approximately $3.7 million.

SomaXBT also alleges that MrBeast received additional tokens as part of its contract, bringing his total earnings to around $9 million. The aggressive selling also crashed SuperFarm’s price, leaving smaller traders, many of whom were his followers, holding the bag.

Another instance is Polychain Monsters, where MrBeast allegedly turned its $25,000 investment into a $1.7 million profit. In March 2021, he sold all of them off in just a few days, receiving $1.3 million. The aggressive sale also crashed Polychain Monsters by 90%.

A similar pattern occurred with other projects, including SPLYT (SHOPX). After investing $25,000 USDT in March 2021, MrBeast allegedly sold in just a few weeks, making $765,000. These revelations raise questions about the involvement of celebrities in financial markets.

On the Flipside

Why This Matters

Many retail investors follow the endorsements of influencers and celebrities like MrBeast. These investors should be aware of the risks of the influencer dumping large amounts of the tokens on them.

Read more about influencers in crypto:

Coffeezilla Shades Logan Paul Lawsuit, Revealing New Dirt

Read more about TON’s latest metrics:

TON Reaches 100 Million Wallets: Here’s Why It’s Still Struggling