Key Points
- MrBeast made more than $10 million backing influencer-promoted crypto tokens.
- Many projects are now down by over 90%, with some rebranding after huge losses.
MrBeast is at the center of an investigation made via X, due to his backing of various low-cap IDO tokens promoted by famous influencers.
James Stephen “Jimmy” Donaldson is better known by his online alias MrBeast, and he’s an American YouTuber, Internet personality, and businessman.
The 26-year-old has allegedly made over $10 million by backing cryptos promoted by influencers such as Lark Davis, CryptoBanter, KSI, and more. Many of the projects are down by over 90% and some of them rebranded after significant losses.
Projects Backed by MrBeast
According to an in-depth analysis via X, the investigation on MrBeast is based on the wallet currently labeled as MrBeast on Arkham.
1. SUPER by SuperFarm DAO, now Superverse
This project brought MrBeast more than $9 million from the token investment. MrBeast invested $100,000 and supported the SuperFarm project.
In a screenshot from EllioTrades live stream, he revealed a DM conversation with MrBeast by accident, showing the investment.
According to official data, this matches his wallet activity. Everyone who sent funds to the same wallet as the YouTuber received SUPER token allocations, according to their amounts.
MrBeast’s wallet activity shows the following:
- On February 21, 2021, he received 100k USDC from Binance US.
- A few minutes later, he sent the amount to a new wallet.
- The next day, on February 22, he received 1 million SUPER tokens.
Later, the YouTuber showed his support for the project, following the SuperFarm DAO on X. Also, on March 4, he continued showing support commenting under one of the project’s deleted tweets.
Other token moves related to MrBeast’s wallet followed in 2021:
- On March 30, he transferred the million SUPER tokens to a new wallet, paying 0.2 ETH for gas fees.
- In the next 24 hours, the wallet dumped the tokens in 751 trades and made 1,900 ETH.
- On March 31, the same wallet sent the 1,900 ETH back to the MrBeast main wallet.
- On April 1, the YouTuber deposited the ETH worth around $3.7 million to the Binance US account for cashing out.
Also, between May 8 and October 22, 2021, his wallet received $6.9 million worth of SUPER tokens from the vesting contract. He sold all the cons on the open market, which brought him around $5.5 million.
2. PMON by Polychain Monsters (Now Protocol Monster Labs)
This is another project that was backed by MrBeast and which brought him a significant amount of money. He invested $25,000 in the token and made $1.7 million.
Polkamon (PMON) was one of the largest marketing failures explained in 2021 via X.
Here are MrBeast’s moves related to the token in 2021:
- On March 23, his wallet sent 25,000 USDT.
- On March 31, he received 25,000 PMON tokens from the private distribution contract.
- On April 1, he sent the PMON tokens to the same wallet.
- In the next 12 hours, the wallet “0x4f7b6” dumped the tokens in 485 trades and made 685 ETH.
- On April 1, MrBeast received the ETH from the wallet and later sent the amount worth $1.3 billion to Binance US.
- On May 10, MrBeast received 68.700 PMON tokens from the team and made $385,000 by selling them.
3. SHOPX by SPLYT (Now SHOPX Labs)
This is another project in which MrBeast invested. He shared the spotlight on the project with KSI and Lark Davis.
Here’s an in-depth look at MrBeast’s trading activity of SHOPX in 2021:
- On March 31, he received 607,000 SHOPX tokens with ETH for gas fees.
- On April 9, a wallet used to trade the tokens received them with 0.15 ETH for gas fees.
- During the next 3 days, the wallet sold 120,000 SHOPX tokens for 147 ETH.
- On April 13, the wallet sent the ETH and the remaining 487,000 SHOPX tokens back to the main wallet.
- MrBeast sold the remaining tokens in the following days.
- He is still holding 177,000 SHOPX tokens worth $661.
4. STACK by Jigstack DAO
This is another project that the YouTuber supported, making $1.25 million by selling his allocation.
According to official on-chain data, there are no direct transactions for STAK tokens, but two Binance deposits of 150,000 and 100,000 USDT which match the timing of MrBeast’s allocation.
- On May 3, MrBeast received 15 million STAK tokens from 2 addresses.
- The next day, on May 4, he sent the amount to a wallet for 0.11 ETH for gas fees.
- Within a week, MrBeast sold all the 15 million STAK tokens, making $753,000.
- In the following days, he sold the remaining tokens, earning $1.25 million.
5. VPP by Virtue Poker
This is a project where the YouTuber gambled his earnings without investing any funds. He entered the virtual poker tournament twice, with 50,000 USDT and 25,000 USDT respectively.
He received 600,000 PVV point tokens and he sold 200,000 coins, holding the rest so far.
Other MrBeast Investments
According to the X investigation, these are not the only projects that MrBeast invested in. More projects include XCAD and AIOZ from which he reportedly made millions of dollars.
With the five projects mentioned above, insiders made huge profits, but retail investors faced major losses. Insiders dumped their allocations, making millions, and retail investors are now holding tokens that are down by 90%.
The investigation also mentions a screenshot, showing how MrBeast and others moved money via the crypto market. If they had done this in the stock market, the SEC would be after them, according to the post by YouTuber Rosanna Pansino.
Apart from all this, MrBeast showed his support for NFTs, promoting VeeFriends from Gary Vee via X, and spending $1.25 million to buy them. He also traded other various NFTs.
These are most of MrBeast’s tracked on-chain transactions from the X investigation dated October 11 by SomaXBT.
