Key Takeaways:
MrBeast is a YouTube content creator with half a billion fans, a multi-million dollar personal fortune, and a global business empire. He hosts one of the largest channels on YouTube, known for making videos of stunts, challenges, and acts of philanthropy.
A team of online crypto investigators recently analyzed Mr. Beast’s crypto activities. They found that Mr. Beast might have earned large amounts by promoting numerous suspicious cryptocurrencies. As per the allegation, Mr. Beast might have accumulated over $23 million from these shady deals.
One such promotion of SUPER crypto by the YouTuber with 320 million subscribers got a kickback of $11.45 million. The investigations revealed that Mr Beast was netting $4.65 million from ERN coins and received profits of $1.72 million from PMON, $1.31 million from STAK, and $1 million from AIOZ.
These recent allegations against the YouTuber MrBeast opened discussions on the accountability of influencers in their promotions. There have been widespread discussions for a long time about the authenticity of social media influencers. With Mr. Beast’s data analysis, more people are joining the discussion.
Fifty Crypto wallets for Mr Beast
According to the crypto investigators Loock.io, conducting a detailed analysis of the crypto activities revealed that there are more than 50 digital wallets for Mr. Beast which is one of the most compelling proofs that these wallets are associated with him is the “Shared deposit address”.
According to the advisory firm, this evidence is an indication of the misuse of influence by Mr. Beast. He used his influence to mislead traders by promoting questionable tokens. He planned to pump these tokens and dump the coins in the market. This is considered as malpractice as per the crypto rules and regulations. A separate investigation conducted by SOMA XBT reported that Mr.Beast has earned more than $10 million by marketing low-cap cryptocurrency tokens. There are allegations that he is doing insider trading.
MrBeast also promoted SuperVerse, formerly known as SuperFarm. It is a cryptocurrency that had many promises from making the NFT marketplace, creating a gaming economy by integrating games. SUPER has a prescale ICO which was open to public investors. The super token was traded for 0.02 each, however upon launch the price of $Super had a 50x increase and the price increased to $1 each. The early investors got their investments instead of a 50x gain through legal loopholes. While others got refunds initial investors like MrBeast reaped the benefits.
Making Influencers accountable
The allegations against MrBeast added fuel to the discussions of the accountability of influencers to their viewers. These activities created another group of influencers called YouTube investigators. They are using these social media platforms to expose the shady practices of other crypto influences.
State authorities are also intervening in this matter to control the crypto scammers. In 2021 A National Cryptocurrency Enforcement Team was created by the US Department of Justice to handle scams in Cryptocurrencies. The on-chain crypto investigators are against the scam of YouTube influences for promoting these cryptocurrencies.
As per the analysis of MrBeast’s wallet Multiple instances of investment in cryptocurrency projects during presales and creating huge profits without being an active trader. He is more focused on his social media empire and his various businesses and collaborations. Finding the right tokens for investments requires time,focus, and analysis of potential investment opportunities in the right projects. Mr Beast’s track record of achieving consistently large returns while being a content creator and businessman is very unlikely. The success factor of his investments may not be because of his sharp trading intuitions but just because of the knowledge of insider information related to the upcoming partnerships and deals within the network.
The fanbase of MrBeast has been growing in the middle of these controversies. And his next moves are important in deciding his long-term success. As these allegations can affect his fame lots of his followers are eagerly waiting for his response to these allegations.
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