Popular YouTube entertainer MrBeast has found himself in the spotlight as an on-chain investigation reveals he may have profited significantly from low-cap cryptocurrency investments.
The investigation, conducted by a crypto analyst, indicates that MrBeast — also known as Jimmy Donaldson — has earned upwards of $10 million through his involvement in various Initial DEX Offerings (IDOs), including projects such as Polychain Monsters (PMON) and Virtue Poker (VPP).
Concerns have been raised regarding the ethical implications of his actions, with the analysis likening it to a pump-and-dump scheme. By promoting these tokens to millions of followers only to offload them post-value surge, casual investors may face financial harm.
The analyst highlighted the troubling behavior exhibited by some social media influencers in the cryptocurrency market, noting that similar actions in traditional finance would likely attract regulatory scrutiny.
MrBeast’s Involvement with SUPER
The investigation details multiple projects connected to Donaldson, including SuperFarm ($SUPER), Polychain Monsters ($PMON), SPLYT ($SHOPX), STAK, and Virtue Poker ($VPP).
Analysis based on wallet activity linked to ‘Mr. Beast’ suggests that his investment in SuperFarmDAO amounted to $100,000, which allegedly garnered him 1 million $SUPER tokens.
These tokens reportedly were sold later for roughly 1,900 ETH, totaling around $3.7 million at the time. Additional token sales reportedly brought MrBeast’s total earnings from $SUPER to close to $9 million.
Similar returns were noted with other tokens, as a $25,000 investment in $PMON is said to have resulted in profits of $1.7 million, while the $SHOPX token generated $765,000 from a $25,000 input. Earnings of approximately $1.25 million were also noted from $STAK tokens.
The analyst pointed out that many of these investment projects have since seen significant declines, with some tokens dropping over 90% from their peak values. Several projects have undergone rebranding or strategic shifts following these downturns.
The remarks also brought attention to MrBeast’s previous support for non-fungible tokens (NFTs), highlighting his public endorsement of certain digital collectibles.
Requests for an interview with MrBeast on this matter have gone unanswered.
