From YouTube to crypto: MrBeast’s move to fintech explained

MrBeast’s crypto journey has not been with out controversy.

On the finish of 2023, researcher found SomaXBT so-called the YouTuber made greater than $10 million by backing low-cap tokens associated to pump-and-dump schemes.

One notable case concerned SuperFarm [SUPER]the place MrBeast reportedly obtained 1 million tokens after investing $100,000; simply earlier than costs soared and later collapsed.

Supply: Loock Advising

An additional research report by Loock Advisering claimed he made greater than $23 million by insider buying and selling associated to the rug-pulling enterprise.

When celebrities met crypto

MrBeast just isn’t the primary celeb to enterprise into the world of crypto. Over time, numerous public figures, together with Kim Kardashian, Floyd Mayweather, Lindsay Lohan and Jake Paul, have been swept up within the digital asset frenzy, typically with authorized penalties.

For instance, Kardashian paid a $1.26 million wonderful for selling EthereumMax, whereas Mayweather and DJ Khaled had settled related expenses in earlier years.

Regardless of these setbacks, the magnetic pull of crypto hype continues to draw high-profile names.