As a seasoned observer of the digital landscape and someone who has navigated the tumultuous waters of online fame myself, I find myself deeply troubled by the allegations against Mr. Beast in this recent investigation by Coffeezilla.
According to Coffeezilla, they’ve delved deeply into the rumored crypto-related scandals involving MrBeast. In their words: “It seems awful, it appears awful, it is indeed awful.
Known online as MrBeast (real name James Stephen “Jimmy” Donaldson), has been a cherished content creator, setting new benchmarks by making his YouTube channel the first to surpass 300 million subscribers. Lately, though, his reputation on YouTube has faced challenges due to several controversies that have emerged over the past few months.
Controversy surrounds his business venture with Logan Paul and KSI called Lunchly due to claims of mold presence, accusations that his workplace environment led to the mistreatment of minors necessitated a defense, and allegations he participated in questionable ‘pump and dump’ crypto strategies have been made against him.
Content creator Coffeezilla has conducted a thorough probe into the accusations surrounding the crypto scheme, and he labels his findings as “misguided, foolish, and unscrupulous.” In Coffeezilla’s opinion, the activities discovered might be illegal if it can be demonstrated that MrBeast actively participated in them.
To start off, Coffeezilla pointed out a potential case of “confidential tip trading” where it’s claimed that MrBeast gained substantial profits from selling Polychain Monsters (PMON) and JIGSTACK (STACK). It was suggested that MrBeast used insider knowledge about business partner KSI endorsing the two ventures as the basis for his coin sales.
According to an investigation by Coffeezilla, there seems to be no solid evidence or concrete proof that MrBeast participated in insider trading during those specific events. MrBeast himself has stated he will only focus on what can be definitively proven to have occurred.
MrBeast and SuperVerse
It’s worth noting that SuperVerse, previously known as SuperFarm, is believed to be the crypto project from which YouTube sensation MrBeast earned a significant sum, estimated at over $10 million. This wealth is said to have been accumulated following an initial investment of $100,000 during the presale. As per Coffeezilla’s report, these profits were allegedly generated by MrBeast leveraging his popularity to endorse the coin and later selling it off.
This was done via a series of tweets referencing SuperVerse following the purchase of a “huge stake” in the coin. As evidence, Coffeezilla cites leaked communications between MrBeast and the founder of SuperVerse and a crypto wallet seemingly linked to the YouTuber.
Coffeezilla revealed screenshots suggesting that Mr. Beast discussed doing a $100K transaction with Super’s founder. Our investigation found a digital wallet linked to Mr. Beast, which was traced as the source of a $100,000 transfer to the presale wallet for Super. Additionally, we discovered this same wallet received millions of Super tokens in various unlock periods, most of which were quickly sold off aggressively.
When Coffeezilla reached out to MrBeast for clarification, he received this response:
The YouTube creator stated that Jimmy (MrBeast) claims he isn’t involved in any trading or managing of trades, instead pinning it all on a fund. This fund is allegedly managed by an investor named Jason A. Williams, whom MrBeast follows on Twitter. Nevertheless, the YouTuber expressed doubts, finding it hard to believe that MrBeast is unaware of what’s happening in this situation.
In simpler terms, “We can confirm that MrBeast organized the presale and posted the tweets, but we’re unsure if it was Jason handling the trades for Super or if he was only managing the tweets. What truly matters is whether MrBeast knew about the trades and whether Jason was aware of the tweet.
MrBeast and Ethernity Chain
Contrary to SuperVerse, it appears that MrBeast does not own or have direct involvement in the acquisition of a digital token known as Ethernity ($ERN). When Coffeezilla interviewed the creator of the token, they stated “We were conversing with his fund manager” and specified MrBeast’s investment vehicle as Rocket Fund.
2021 saw Rocket Fund team up with Ethernity during a pre-sale event, and they additionally acquired over $100,000 worth of additional tokens. Similarly, internet personality MrBeast took part in promoting Ethernity on Twitter by sharing information about the token.
This one will be hype 👀
— MrBeast (@MrBeast) March 9, 2021
Following the collaboration between Rocket Fund and Ethernity during their presale, both MrBeast’s name and emblem became visible on the Partners and Investors page of the company’s website. However, Coffeezilla raised concerns about the connections between MrBeast’s fundraising initiative #TeamSeas and Ethernity, as this project hosted a two-month charity auction for NFTs where participants could use Ethernity to purchase and donate.
After a month into the charity auction, The Rocket Fund started trading Etherinity tokens, which saw a partial increase in value due to the endeavor. “It’s terrible, it seems terrible, it is terrible,” asserted Coffeezilla. (Paraphrased version)
He clarified that the situation didn’t appear to be a carefully thought-out scheme to inflate the value of a coin through a charity auction. In fact, he believed it was inappropriate, foolish, and unethical to sell tokens so soon after a two-month long charity auction, regardless of the initial intentions.
“I believe this situation wasn’t intentionally designed, but regardless, if you’re the ‘charity guy,’ it seems problematic that your charity fails while your fund generates millions in profits from selling the same token people use for charity bids. That’s not just unfortunate; it’s morally questionable.
MrBeast and XCAD
According to Coffeezilla, one more example arises where MrBeast’s participation sparked interest in the cryptocurrency token, $XCAD. Unlike SuperVerse and Ethernity, however, MrBeast chose not to utilize Twitter to advertise this specific token.
According to Coffeezilla’s explanation, we learned that MrBeast participated in the presale because numerous articles boasted about it. Notably, MrBeast’s involvement was utilized for promotional purposes rather than highlighting the Rocket Fund itself on this occasion.
Coffeezilla claims that when a well-known figure like MrBeast is associated with a specific token, it significantly influences its sales. He points out that Rocket Fund frequently utilizes MrBeast’s name or brand to market certain tokens, sell them quickly for substantial profits, and then abandon the founders of these projects who are left in financial difficulty.
According to XCAD’s founder, Oliver Bell, he communicated with Coffeezilla and verified that there was a substantial sale of assets (dumping) from a wallet connected to the team of popular content creator, MrBeast. However, Bell avoided placing direct blame on MrBeast and instead emphasized his concerns regarding Rocket Fund.
In Bell’s words, “Jimmy isn’t a terrible person or has an unhealthy heart; instead, he seems genuinely intrigued by the world of cryptocurrencies. However, I strongly believe that the team managing his crypto lacks knowledge and expertise.” On the other hand, Coffeezilla expressed a different perspective.
The person believes that Jimmy’s crypto team wasn’t ignorant about their actions. Instead, they perceived a chance to earn tens of millions of dollars from MrBeast’s influential brand and seized it, which they indeed accomplished. However, he claims that during this process, certain questionable activities occurred. Whether these actions were also illegal might depend on the unresolved queries we have.
Essentially, these queries focus on if MrBeast is aware of his team’s actions and exerts control over them. As per Coffeezilla’s claims, there seems to be no clear evidence yet to support either side of the argument.
The core issue lies in the fact that the main figure in this narrative (MrBeast) only provides a carefully crafted statement, filtered through his public relations representative who specializes in crisis management. This is a point he emphasized. He made it clear that the gravity of this situation, as perceived by others, ultimately depends on their own judgment.
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2024-11-15 05:49