Popular YouTuber MrBeast is embroiled in a new scandal
Jimmy Donaldson, the YouTuber better known as MrBeast, is embroiled in a new scandal based on an in-depth investigative report into his cryptocurrency transactions. A report published on October 29 by several cryptocurrency investigators revealed the content creator’s involvement in several cryptocurrency trading operations that may have earned MrBeast tens of millions of dollars in profits but cost his followers.
The investigation found that more than 50 cryptocurrency wallets believed to have been operated by MrBeast were active, with his suspected Binance account processing more than $13 million in single transactions. Additionally, analysts uncovered several specific examples of suspicious trading patterns, including a highly controversial case involving SuperFarm Tokens, or SUPER.
In February 2021, Jimmy Donaldson allegedly received one million SUPER tokens, then sold them for around $9 million after promoting the cryptocurrency to his massive 320 million subscribers.
Similar patterns were later uncovered with other cryptocurrencies, including Polychain Monsters and Ethernity Chain. The investigation found that MrBeast promoted these relatively unknown tokens, then quickly dumped them as soon as their prices rose. Preliminary investigation results suggest that MrBeast may have made at least $23 million from such activities.
MrBeast also reportedly used several exchanges, including Gemini, and leveraged multiple wallets for various purposes, from selling tokens to holding cryptocurrencies.
It’s been a tough few weeks for MrBeast, who’s been grappling with a series of scandals, including company group chats that were reportedly sent to the FBI for investigation and an ongoing lawsuit filed by participants in his Amazon show.
Currently, the famous YouTuber has not given any response to these allegations.
