Close Menu
    Trading & Investment Strategies 4 Mins Read

    Beast Crypto Bust?

    Jimmy Donaldson, the YouTube sensation recognized as MrBeast, has resurfaced in the cryptocurrency realm with a new token acquisition after remaining dormant for over half a year. Speculation is mounting regarding possible insider trading activities, alleging that he reaped substantial profits by strategically manipulating the value of various crypto ventures.

    Data from Arkham Intelligence, a blockchain analytics firm, indicates that the influential YouTuber, boasting a following of over 430 million subscribers, participated in digital asset trades that purportedly misled investors and generated earnings exceeding $23 million in the past year.

    Recent activity monitored on MrBeast’s digital wallet, as per Arkham’s findings, shows a transfer of 114,483 USDT, approximately equivalent to $114,480, into the Aster token, which occurred on Sunday.

    The transaction originated from a wallet labeled “WuTangClan” on the Arkham platform. This wallet currently holds approximately $120,740, a substantial surge from $6,600 just a week prior. While there is no recorded further activity relating to Aster holdings within the wallet, market observers remain cautious due to the token’s volatility, having experienced a peak at $2 before declining by 18% in the last day.

    Recent Activity in MrBeast’s Digital Wallet

    According to Arkham data, last Thursday, MrBeast’s wallet received a modest transfer of 10 GEMS tokens, valued at approximately $2.03, from a Gnosis Safe wallet. Three days later, his wallet was credited with 114,483 USDT via ChangeNOW’s operational wallet, which was subsequently used in the Aster purchase. In a separate transaction, his wallet also received 15.83 billion BABYGR tokens through PancakeSwap, amounting to roughly $152.16.

    More recently, about 20 hours ago, the wallet associated with MrBeast received 998,456 AGRO tokens, valued at around $226.42, via the MEXC cryptocurrency exchange.

    While the intentions behind these token acquisitions are not yet clear, some analysts suggest that Donaldson might be involved in another potential insider trading situation, particularly as the Aster token has only been on the market for a week.

    The digital wallet identified as “WuTangClan” (0x9e67D018488aD636B538e4158E9e7577F2ECac12) is not the only account linked to MrBeast. DeFind, a platform specialized in identifying wallets belonging to prominent individuals, has listed other MrBeast-associated wallets on X, including 0x4f7b6…33007ae8, 0xd6210…6dfa26935b, 0x2c07…9977394, 0x7c1b…218a1b6d6, although only the third mentioned wallet holds a balance exceeding $10.

    The allegations of insider trading follow reports of substantial profits MrBeast gained: $11.45 million from SuperVerse (SUPER), $4.65 million from Ethernity Chain (ERN), $1.72 million from Polkamon (PMON), $1.31 million from STAK, and $1 million from AIOZ Network (AIOZ). In total, these transactions amount to over $23 million in earnings.

    SuperVerse’s Success as MrBeast’s Top Earner

    SuperVerse, which proved to be one of MrBeast’s most lucrative ventures, was actively promoted by prominent crypto influencers, including EllioTrades and Alex Becker.

    According to insights from blockchain researchers at Loock, influencers like MrBeast, KSI, and LazarBeam also promoted the tokens; however, most of the social media posts confirming their participation have since been removed.

    The initial presale of the token in late 2021 allowed investors to acquire $SUPER at $0.02 each. Following its launch, the token experienced a remarkable surge in value, increasing fiftyfold to $1. While presale investors anticipated significant profits, many were later reimbursed their initial investments via legal loopholes, effectively excluding them from the gains.

    Influencers with early allocations, including MrBeast, capitalized on the market rally and secured substantial profits. A leaked screenshot from EllioTrades’ live stream showed private X messages hinting at MrBeast’s intentions to invest $100,000 in the $SUPER presale.

    MrBeast SUPER promotional post. Source: Loock


    He also leveraged his social media presence to promote the token, sharing updates with his vast audience of 33 million followers.

    The Aster token, where MrBeast has recently invested, was officially launched on September 17 following the merger of Astherus and APX Finance. The project receives backing from YZi Labs (previously known as Binance Labs) and has gained endorsements from Binance co-founder Changpeng Zhao.

    As of this article’s writing, the token is valued at $1.55, down 18% from its peak of $1.97 recorded on Sunday morning. However, it’s still trading at over 1,707% higher than it did the previous week.

    If you’re reading this, you’re already ahead. Stay there with our newsletter.

    Share.

    Related Posts