MrBeast’s history with cryptocurrencies is also tinged with controversy

  • Since 2021, the YouTuber has been getting into the world of cryptocurrencies.

  • MrBeast has invested in btcoin, NFTs and backed the DeFi market XCAD Network.

MrBeast, one of the most popular YouTubers and philanthropists, whose real name is Jimmy Donaldson, is known for his extravagant and charitable actions that have captured the attention of more than 300 million viewers around the world, to the point of being considered one of the most famous influencers in the world.

In addition to his philanthropic efforts, he is also an enthusiastic investor in the cryptocurrency market, being one of the topics he has integrated into his content.

A few days ago he became news when he was accused of earning USD 23 million with insider tradinga term used to describe a criminal act through which a person uses privileged information to obtain unusual profits through investments in financial markets.

As CriptoNoticias reported, these accusations came to light in an investigation published by Lookonchain. It details that MrBeast would have generated profits through his participation in more than five emerging cryptocurrency projects quoted in the market.

The youtuber’s foray into the world of cryptocurrencies has been known since 2021, when he captured the attention of the community by accidentally revealing your walletamid his enthusiasm for CryptoPunks. The YouTuber proudly showed off his acquisition without realizing that, by doing so, he was revealing sensitive information about his portfolio.

This event was recently cited by SomaXBT, who calls himself a “scam survivor turned crypto threat researcher” in his profile. In a thread in X remembered the incidentgenerating a wave of discussions about privacy, security and exposure in the ecosystem.

Based on his public statements it appears that MrBeast’s cryptocurrency portfolio includes at least $2 million worth of bitcoin (BTC), which he almost lost two years ago when his house was robbed. The thief, apparently unaware of the private key written next to the laptop, missed his chance to make off with the fortune.

In addition to his BTC holdings, he has also invested in NFTs, including 8 CryptoPunks. He did this at a time when collectibles were booming, later selling them for 20 to 30 times the return on investment. He then reinvested the profits into Gary Vaynerchuk’s VeeFriends.

It has also backed Xcademy’s XCAD (XCAD) Network, a decentralized finance (DeFi) marketplace and YouTube plugin that offers influencers NFT creation and monetization, and even has collaborated with Coinbase in several promotions that included participants in a series of contests broadcast on their networks.

Multiple independent researchers accuse MrBeast of using his platform to personally benefit through the cryptocurrency market. Source: YouTube/MrBeast.

It is evident like this the extensive participation of the youtuber in the ecosystem, a process that has been full of controversy due to the fingers pointing at him, joined by SomaXBT, who claims that Donaldson “supposedly earned more than $10 million backing low-cap crypto tokens to the detriment of his followers who have suffered from the losses.”

Added to this are accusations of labor abuse and sexual harassment made by some people who have worked on the production of its content.

MrBeast does not respond to the accusations and his followers defend him

Until now, the youtuber born in Kansas, United States, 26 years ago has not responded to the accusationsso it is difficult to say how much truth there is behind the accusations. A large majority of his enormous audience continues to support him and clings to the belief that the young man, known for his immense generosityhe would never intentionally harm his followers.

Some even assume that it is all a conspiracy to overthrow the empire he has created since 2012when it broke onto the Internet. In this time he has donated millions of dollars in cash, cars, and even entire houses to those in need.

He has created food banks, paid hospital bills, and donated huge amounts to charities through his Beast Philanthropy channel. His reputation as someone who truly wants to have a positive impact on the world has endeared him to millions of followers.

It remains to be seen the results of all these accusations in case they are prosecuted. For now, we wait with bated breath to see what happens next in this cryptocurrency controversy surrounding one of YouTube’s biggest stars.



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