MrBeast $23M Crypto Pump-and-Dump Don Spark Outrage
MrBeast, di YouTube creator wey get over 440 million subscribers, don gather more than $23 million since mid-2020 through high-risk crypto moves. E start with DeFi staking and early CryptoPunks NFT buys, wey turn small investments into over $1 million. The most controversial one na $100,000 SuperVerse (SUPER) presale wey make about $11.45 million. Chain analysis show say MrBeast money dey scatter for over 50 linked wallets wey him team dey manage. After one small "super?" tweet, dem wallets dump plenty tokens, make retail investors lost bad when prices crash.
Similar pump-and-dump moves for Ethernity Chain (ERN) and Polychain Monsters (PMON) help am make money too. When dem check, MrBeast first talk say third-party fund dey handle the assets but later deny say e join for recent $1.68 million ASTER token buy. This kind pattern show the wahala for influencer-driven pump-and-dump schemes. Crypto traders suppose do their own research well well and be careful wen dem dey respond to celeb crypto endorsements.
Bearish
Di tins wey show say MrBeast dey do pump-and-dump go fit make token price drop short term because selling pressure go high and retail investors go lose confidence. For long term, this kain big matter fit make market people dey watch well well plus regulators go come dey oversee more, e go reduce speculative demand for those token wey dem dey promote. Overall, dis news dey bearish for di cryptocurrencies wey e affect.