YouTuber MrBeast earned over $10m promoting low-cap tokens, on-chain crypto investigator says

YouTube personality MrBeast, also known as Jimmy Donaldson, is facing scrutiny after an on-chain investigation revealed that he may have earned over $10 million by promoting low-cap crypto tokens. The investigation, conducted by crypto sleuth SomaXBT, suggests that MrBeast backed projects such as Polychain Monsters (PMON) and Virtue Poker (VPP) through Initial DEX Offerings (IDOs). This has raised ethical concerns, with SomaXBT likening it to a pump-and-dump scheme that harms regular investors. Using on-chain data, SomaXBT aims to increase transparency and hold the crypto community accountable. The investigation also highlights the risks of influencer-backed token promotions. MrBeast’s involvement reportedly extends to several other projects, including SuperFarm ($SUPER), SPLYT ($SHOPX), STAK, and Virtue Poker ($VPP). The investigation alleges that MrBeast’s investments in tokens such as $SUPER resulted in significant profits, with additional tokens bringing his total earnings to around $9 million. Similar patterns were observed with other tokens, with investments of $25,000 reportedly resulting in millions in profits. However, many of these projects have since experienced major devaluations, with some down over 90% from their peak prices. SomaXBT emphasizes that such activities in regulated markets would likely attract regulatory attention. MrBeast has also shown support for non-fungible tokens (NFTs) in the past. Efforts to obtain an interview with MrBeast for further clarification have been unsuccessful.