YouTube investigative journalist Coffeezilla, known for his deep dives into influencer-driven scams and questionable financial schemes, released a detailed video examining MrBeast’s alleged involvement in cryptocurrency ventures.

In the exposé, Coffeezilla scrutinizes MrBeast’s financial gains from crypto investments. He confronts serious accusations of insider trading and exploitation of his public platform for profit. However, MrBeast’s team reportedly declined to provide detailed comments, instead issuing a carefully worded legal statement.

Coffeezilla Investigation on MrBeast’s Potential Scams

According to Coffeezilla, this complex story blurs the line between “shady” and outright “illegal.” The investigation was prompted by allegations circulating online.

Some claim MrBeast profited as much as $23 million through manipulative and deceptive practices. Coffeezilla, known for his thorough research and impartiality, reached out to various sources—researchers, crypto project heads, and even MrBeast himself.

According to Coffeezilla, the accusations stem from two main sources. The first is a report by SomaXBT, which alleges MrBeast made $10 million by backing low-cap cryptocurrency tokens, which later plunged in value.

“An investigation into Mr. Beast, how he allegedly made $10 million+ by backing low-cap IDO crypto tokens promoted by influencers like Lark Davis, CryptoBanter, KSI, and others. Many of these projects are now down over 90%, with some rebranding after major losses,” SomaXBT shared on X (formerly Twitter).

Another group, look.io, claimed he made even more through “scams, shady deals, and his network of connections.” Coffeezilla asserts that while some allegations seem exaggerated, there is credible evidence supporting others, making it difficult to offer a single, definitive judgment.

Key Allegations: Inside Deals and Suspicious Tweets

Coffeezilla begins by dissecting a few specific cases involving cryptocurrency projects in which MrBeast allegedly participated, including Super and Earnity Chain. According to the report, MrBeast invested in these projects, later promoting them publicly while secretly selling off his shares. This led some to believe he was engaging in unethical, if not illegal, market manipulation.

For instance, Coffeezilla discusses leaked screenshots showing MrBeast’s alleged involvement in Super’s pre-sale. According to these images, MrBeast invested $100,000, ultimately cashing out over $10 million. Coffeezilla points out that MrBeast tweeted twice about Super, one of which came suspiciously close to a sale of tokens by a wallet linked to him.

In another tweet, he hinted at the project’s value, saying “super” in response to a comment about the token’s potential growth. Coffeezilla suggests this could have influenced MrBeast’s followers to buy in while he was secretly offloading his investment, a potential conflict of interest.

According to Coffeezilla, this pattern is repeated in the cryptocurrency Earnity Chain. MrBeast’s name was prominently featured on the Earnity Chain website. He even allegedly promoted an associated NFT (non-fungible token) charity auction meant to benefit his “Team Seas” initiative.

Yet, records show his alleged wallet sold millions of Earnity tokens during the auction’s two-month campaign. Coffeezilla acknowledges that the charity auction itself performed poorly. Nevertheless, the investigator criticizes the timing, labeling it a “terrible look” for MrBeast, known as the “charity guy.”

A Complicated Network of Influences and Power Players

According to Coffeezilla, one of the most complex elements of the story is MrBeast’s involvement in crypto beyond his direct actions. The detective uncovers links between MrBeast’s investments and Jason Williams, a figure in the cryptocurrency space who appears to have managed some of these funds.

Coffeezilla found that Williams was connected to the same wallet linked to MrBeast’s investments. Reportedly, he often promoted and sold tokens associated with MrBeast’s name. This association could potentially absolve MrBeast of some responsibility, but as Coffeezilla points out, the boundaries remain unclear.

Of note is that MrBeast has occasionally spoken publicly about his investments, including a now-infamous conversation with Logan Paul, where he discussed purchasing CryptoPunks after a call with influencer Gary Vee.

“So, it seems like MrBeast was very much aware of, and in some cases directly involved in, decisions to buy and sell crypto,” Coffeezilla concludes.

While MrBeast’s team denies he was directly involved in trading, Coffeezilla finds it hard to believe MrBeast was entirely hands-off.

MrBeast’s Team’s Response (Or Lack Thereof)

In response to these allegations, MrBeast’s team provided a statement. In it, they assert that his investments were managed through a fund that consulted with industry experts and adhered to all “appropriate regulations.”

According to the team, MrBeast did not control the day-to-day trades. Yet, as Coffeezilla observes, the statement “takes zero accountability” and fails to address specific claims about MrBeast’s tweets and sales.

Critics say MrBeast’s brand is being used as a marketing tool in cryptocurrency projects, leading to inflated values that hurt regular investors. This becomes especially problematic given MrBeast’s vast following and reputation as a philanthropist.

For Coffeezilla, the issue is not merely about legality; it is about ethics. He suggests that while MrBeast’s actions may not be criminal, they still raise questions about his responsibility to his audience.

“I think to MrBeast and probably to his fund, this is just business. They set out to make a lot of money, and they made a lot of money—what’s the problem, right?” Coffeezilla quipped.

Indeed, Coffeezilla’s exposé is a compelling, if unsettling, reminder of the blurred lines between fame, finance, and influence within the crypto playing field.

The second week of November 2024 has seen a surge in crypto whales’ activity, with large-scale investors strategically accumulating key altcoins amid improving market conditions. As the cryptocurrency market experiences heightened volatility, these substantial transactions could indicate a shift in sentiment or anticipation of better price performance.

The altcoins are drawing significant whale interest from established favorites to emerging tokens, highlighting diverse strategies among high-networth investors. That said, the top altcoins crypto whales bought include Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP).

Dogecoin (DOGE)

Dogecoin is one of the altcoins that crypto whales bought this week. This development could be linked to the bullish sentiment around the coin since Donald Trump approved Elon Musk’s proposed Department Of Government Efficiency department for the incoming US administration.

On November 8, the large holders’ netflow showed a negative reading, indicating that whales sold. This metric tracks the number of coins bought or sold by large investors. As of this writing, the same metric has increased to 1.72 billion. 

At Dogecoin’s current price, this figure indicates that crypto whales purchased about $636 million DOGE this week. This accumulation has also affected the coin’s value. In the last seven days, DOGE’s price has increased by 85% and surpassed the market cap of XRP. 

Should whales continue to buy, Dogecoin could rally higher than $0.37 in the coming week. If that does not happen, the cryptocurrency might remain range-bound and trade sideways.

Litecoin (LTC)

Litecoin is another altcoin that crypto whales bought this week. On November 11, 6.33 million LTCs were held by addresses that owned between 1 million and 10 million coins.

At press time, it has risen to 7.57 million, indicating that crypto whales purchased about $106 million worth of Litecoin in the second week of November 2024. Like DOGE, the accumulation has also impacted the altcoin’s value.

Over the last seven days, Litecoin’s price has increased by 20% and currently trades at $85.87. If whale accumulation continues, then LTC could get close to $100. On the flip side, if they decide to return to the sidelines, the price might decrease. 

Ripple (XRP)

Lastly, crypto whales also purchased Ripple (XRP) in large volume this week. This large accumulation could be linked to Robinhood’s decision to list the token as the US market seeks to gain regulatory clarity on cryptocurrencies. Further, the speculation that SEC Chair Gary Gensler could resign also spurred the accumulation. 

For instance, on November 12, the XRP held by the 1 million to 10 cohort was 3.82 billion. On the same day, the 10 million to 100 million cohort held about 6.79 billion XRP. But at the time of writing, the figures have climbed to 3.97 billion and 6.95 billion, respectively. This means that crypto whales purchased a combined 310 million tokens, valued at around $267 million.

As a result, XRP’s price increased by 56% within the past week while trading at $0.87. Should whales continue to pour money into it, the price could close in on $1. If not, it could experience a drawdown.

Undeniably, there has been a broader market pullback over the past couple of days. However, several AI-focused tokens have managed to post gains despite the downturn.

In this analysis, BeInCrypto highlights three AI coins with significant price growth.

AIOZ Network (AIOZ)

AIOZ, the native token of the AIOZ Network—a decentralized platform that leverages a global network of nodes to deliver content—has noted a 45.63% price surge over the past seven days. It is one of the AI tokens of the week to pay attention to. As of this writing, it trades at $0.75. 

At its current price, the altcoin trades above its 20-day exponential moving average (EMA). The 20-day EMA calculates the average price over the past 20 days, with more emphasis on recent data points.

This setup indicates a short-term bullish trend. It signals that buying pressure is prevailing and the asset is in an uptrend.

If AIOZ maintains this upward trend, its price may climb toward $0.79. A successful rally past this level may set it on the path to reclaim its year-to-date high above $1.

However, there is a catch. Its plummeting Chaikin Money Flow (CMF) indicates that the buying pressure is weakening. AIOZ’s CMF, which tracks money flows into and out of its market, is below zero at -0.02. 

When an asset’s CMF is negative during a price rally, buying pressure is waning, thus forming a bearish divergence. This divergence is a warning signal that the rally may not be sustainable and could face a reversal if the selling pressure continues.

AIOZ’s price may fall to $0.61 if this happens, invalidating the bullish outlook above.

Render (RENDER)

The price of the leading AI-based token Render (RENDER) has spiked by 34% over the past seven days, making it one of the top AI tokens of the week. During the week in review, the AI-based token rallied to a five-month high of $7.20 before witnessing a pullback over the past 24 hours due to the general market downturn. Nonetheless, it trades at $6.69 and still enjoys a bullish bias.

RENDER’s Parabolic Stop and Reverse (SAR) indicator confirms this bullish outlook. As of this writing, the indicator’s dots, which identify an asset’s trend direction and potential reversal points, rest below RENDER’s price. 

When the Parabolic SAR dots are positioned under an asset’s price, it suggests that the asset is enjoying upward pressure and the trend is bullish. Traders interpret this as a signal to go long and exit short positions.

If this trend persists, RENDER’s price will likely test resistance at $7.39. A successful breakout could propel the token towards $8.62.

However, if profit-taking activity resurges, this bullish outlook may be invalidated. The token’s price may fall to $5.87.

NEAR is another AI token that has performed impressively over the past week. It exchanges hands at $5.52 and has logged a 31% rally in the week under review. 

Its Elder-Ray Index confirms that the bulls remain in market control and are attempting to push NEAR’s price higher.  At press time, the indicator’s value stands at 1.07. 

The Elder-Ray Index measures the strength of buyers (bulls) and sellers (bears) in the market. When its value is positive, it generally means that buyers are stronger than sellers, indicating a bullish market sentiment. 

If buying pressure strengthens, NEAR’s price will break above resistance at $6.04 and attempt to trade at $6.74, a high last reached in June. 

However, shifting market sentiment from positive to negative will invalidate this bullish thesis. If selling activity gains momentum, NEAR’s price may drop below $5 to trade at $4.47.