MrBeast $10M Crypto Gains and How Influencer-Backed Tokens Crashed

A recent investigation into YouTube sensation MrBeast exposes his involvement in profiting over $10 million by backing low-cap crypto tokens. Many of these had since plummeted over 90% in value. Promoted by influencers like Lark Davis and KSI, these investments left retail investors facing massive losses.

At the center of this investigation is MrBeast’s involvement with SuperFarm, now rebranded as SuperVerse. The investigation, based on wallet activity labeled as belonging to MrBeast by blockchain analytics platform Arkham Intelligence, alleged that MrBeast turned an initial $100,000 investment into over $9 million.

MrBeast’s involvement became public when a private message from him, shared on a livestream by crypto influencer ElliotTrades, revealed his investment. On February 21, 2021, his wallet received $100,000 in USDC from Binance, which he then sent to a new wallet in exchange for 1 million $SUPER tokens. Over the next few months, MrBeast allegedly sold these tokens, netting millions in the process. The project has since suffered significant losses, with $SUPER down 75% as of press time.

Another key project in MrBeast’s crypto portfolio is Polychain Monsters. “$PMON is another project where MrBeast made significant money. By investing just $25k, he made $1.7 million. I’m not going to explain how bad $PMON was, @zachxbt already covered it in a detailed thread,” SomaXBT’s post read.

Crypto Gains Go Beyond Tokens as MrBeast Profits from NFTs

In addition to these projects, MrBeast also profited from investments in SPLYT, where he reportedly made $765,000 from a $25,000 investment in its SHOPX token. Despite the losses retail investors face, MrBeast still holds a portion of these tokens, which have similarly dropped in value by over 90%. Other projects like Virtue Poker ($VPP) and investments in $XCAD and $AIOZ have also been cited, adding to MrBeast’s multi-million-dollar earnings in the crypto space.

Another token where MrBeast made money was $STAK.

“$STAK is another token where MrBeast reportedly made $1.25 million by selling his allocation. While no direct on-chain transactions for $STAK are found, two Binance deposits (150k USDT and 100k USDT) closely match the timing of his allocation” said SomaXBT.

In addition to his cryptocurrency dealings, MrBeast has openly supported the NFT market, having spent $1.25 million on VeeFriends NFTs from Gary Vaynerchuk. Despite the controversy, MrBeast remains an active participant in the digital assets space, continuing to engage with both cryptocurrency and NFT projects.

Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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