Popular YouTuber MrBeast reportedly made $10 million promoting small-cap crypto tokens
The post Popular YouTuber MrBeast reportedly made $10 million promoting small-cap crypto tokens appeared on BitcoinEthereumNews.com.
Onchain crypto sleuth SomaXBT has published investigations showing how popular YouTuber Mr Beast made over $10 million by promoting low-cap crypto tokens. In the report posted on X, Soma disclosed that MrBeast backed the Initial DEX Offerings (IDO) of several tokens also promoted by other crypto influencers. The investigation detailed several projects that the influencer supported, showing a pattern of investing in the token and getting allocations directly at launch, which he usually dumps after promoting it. Some of these projects include Polychain Monsters PMON, Splyt SHOPX, Virtue Poker VPP, and Jigstack STAK. Interestingly, MrBeast is not the only influencer involved in these projects. Others, such as Lark Davis and KSI, were also involved and profited from some of these projects. A quick analysis of the incidents shows that all of them happened in 2021, highlighting the extent of such activities within that period. Infographics Showing MrBeast Crypto Trades Unsurprisingly, most of the projects promoted are now down more than 90%, even though the influencers who promoted them made millions from their activities. MrBeast made $9 million on SUPER with a $100k investment One of the tokens promoted by MrBeast was SUPER, the native token for SuperfarmDAO, which is now known as Superverse. According to on-chain data, the influencer invested $100,000 into the project for a 1 million SUPER allocation. After investing in the project, he followed the SuperfarmDAO account on X. He also commented on a post from the account with the eyes emoji, signaling that this is a project to watch. However, MrBeast later transferred the 1 million SUPER tokens to a new wallet 0x4f7b6 and then sold off the whole supply in 751 trades, making 1,900 ETH worth $3.7 million. Even after the sell-off, MrBeast’s wallet still received around $6.9 million worth of SUPER tokens from the…
Filed under: News - @ October 12, 2024 10:11 am