Researchers have released a new report claiming that YouTube's biggest star, MrBeast, made $23 million in crypto profits “from numerous scams, shady transactions, and his network.”
However, this heavily hedged report also shows signs that it is less than 100% reliable.
In fact, its end credits, which acknowledge pseudonymous researchers who have fewer than 4,000 followers on X (formerly Twitter) at the time of publication, read more like a job application than an authoritative biography.
Not only that, but the principal investigator's website (the default SquareSpace template doesn't have nearly enough content to function) doesn't provide any information about the company, location, or legal details of the business. Not done.
On top of that, this document Hedging Most of MrBeast’s Crypto Profitability Claimsoften rely on phrases such as “we believe,” “strong indicators,” “they may have insider information,” and “likely to have lost money.” there is.
MrBeast's $23 million: Crypto “scam” or “his network”?
Much of the report concerns MrBeast's promotion of crypto tokens, which have since fallen in value. Of course, this should come as no surprise to anyone familiar with the industry, as millions of tokens have been offered throughout history, with a failure rate of over 99%.
It is also not illegal to promote something of diminished value, as long as the promoter complies with the relevant laws.
Read more: Leaked documents allegedly show how much influencers are charging for crypto shillings on Twitter
The researchers also noted support for MrBeast from various social networks, on-chain research, and leaked screenshots and documents. Some of the evidence is both original and questionable.
Cointelegraph amplified this coverage and declined to write an article on the topic, but the topic trended on Wednesday's X. Obtained over 1 million impressions.
Various reactions filled the comments section. Many were not surprised by allegations that the social media superstar promoted a failed cryptocurrency project. Some sought confirmation from trusted researchers.
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