MrBeast promotes low-cap tokens, earns $10m: crypto watchdog
MrBeast, a YouTube entertainer with over 320 million followers, has come under scrutiny following an on-chain investigation that suggests he may have earned millions from low-cap crypto.
According to the anonymous crypto sleuth known as SomaXBT, MrBeast — whose real name is Jimmy Donaldson — earned over $10 million from backing Initial DEX Offerings (IDOs) for projects like Polychain Monsters (PMON) and Virtue Poker (VPP).
It’s an ethical red flag, SomXBT says, equating it to a pump-and-dump scheme. By promoting the tokens to millions of followers, only to sell them after their value surges, causes regular investors to suffer a loss.
“This is the shady stuff they’ve all done in the crypto market,” SomXBT stated on X,…
