GM Explorer,

Influencers and crypto make a risky mix, and MrBeast’s $10M profit from promoting low-cap tokens raises serious questions about influencer-driven investments.

Here’s what we got for you today:

• 🤑 The MrBeast’s $10M crypto scandal!

• 🤯 Vitalik’s meme coin dump sends shockwaves through the market!

• 🧱 Around The Block: How stablecoins are revolutionizing E-commerce payments.

🤑 The MrBeast’s $10M Crypto Scandal!

Popular YouTuber MrBeast has found himself in the middle of a crypto storm.

Onchain crypto investigator SomaXBT revealed that MrBeast made over $10 million by promoting low-cap crypto tokens.

He would back projects like Polychain Monsters PMON, Splyt SHOPX, Virtue Poker VPP, and Jigstack STAK, promote them on social media, and then sell them for a hefty profit.

One of the tokens promoted by MrBeast was SUPER, the native token for SuperfarmDAO, now known as Superverse.

MrBeast invested $100,000 into the project for a 1 million SUPER allocation.

After this, he followed the SuperfarmDAO account on X and even dropped the eyes emoji on one of their posts, hinting that this project was one to watch.

However, things took a shady turn when he transferred the 1 million SUPER tokens to a new wallet, 0x4f7b6, and sold off the entire supply in 751 trades, netting himself 1,900 ETH.

That’s a cool $3.7 million, folks, but there's more!

Even after this massive sell-off, MrBeast's wallet still received around $6.9 million worth of SUPER tokens from the vesting contract between May 2021 and October 2021.

He sold everything on the open market, making $9 million from all the sales. Meanwhile, SUPER is now down 75% from its peak value.

But MrBeast isn't the only one involved in this mess!

Other influencers like Lark Davis and KSI have also made a killing from similar promotions, but most of the projects they promoted are now down over 90%.

These incidents, all from 2021, have led to growing skepticism around influencer-backed crypto projects.

On-chain investigators believe that promoting these tokens is nothing but a scam and have even doxxed the wallets connected to influencers.

For example, ZachXBT doxxed the wallets of memecoin investor Murad Mahmudov, who has been making bold predictions about low-cap memecoins.

But that move sparked mixed reactions from the crypto community.

Some believe that doxxing the wallets will allow people to track the activity and see when it sells.

While others are concerned about the potential risks for Murad given that his wallets currently hold around $24 million worth of memecoins.

The lesson here is to be cautious of influencer hype. It might be tempting but always think twice before jumping on the bandwagon.

Check out the full story here for more details!

 🤯 Vitalik’s Meme Coin Dump Sends Shockwaves Through the Market!

Ethereum’s co-founder, Vitalik Buterin, just pulled off a major meme coin dump—and let’s just say it was a pretty sweet payday.

He cashed in 257.1 ETH, worth about $636K, after offloading a bunch of meme tokens he didn’t even ask for.

I mean, that’s not bad for a day's work, right?

However, the sale of these tokens has sparked intense discussions among investors regarding the impact on low-liquidity tokens and whether such high-profile sales could rattle the market.

It’s become a classic case of “Vitalik breathes, and the market trembles” kind of thing.

Here’s a quick breakdown of his sales:

• he sold 330,000 MSTR for 114.1 ETH ($282K),

• 14 million POPCAT for 74.99 ETH ($186K),

• 14 billion ITO for 36.55 ETH ($90K).

• Then there’s 1.05 million ETH6900 for 15.37 ETH ($38K).

• 50.53 billion SATO for 11.34 ETH ($28K),

• and 10 billion Milo for 4.77 ETH ($12K).

Basically, he turned a bunch of meme coins that just landed in his wallet into serious cash while the rest of us watched the market and wondered if we should be worried.

But here’s the thing: Vitalik Isn't just pocketing all that cash.

He’s made it clear that any unsolicited tokens he receives go straight to charity. He even encouraged meme coin creators to skip the middleman (aka him) and donate directly to charitable causes.

Better yet, he suggested they create decentralized autonomous organizations (DAOs) to involve their communities in the donation process.

Despite his charitable efforts, there are critics who believe that some of these "charitable donations" are merely marketing tactics to raise funds while leaving investors in the lurch.

On top of all this, Vitalik has weighed in on the skyrocketing Ethereum transaction fees, which have surged over 400% in the past month.

To address this, Vitalik proposed looking at solutions like EIP-7762 and rollups to create a fairer fee-sharing balance between Ethereum’s main network and Layer 2 solutions so as to make transactions more affordable for everyone.

So, whether he’s cashing in meme coins or proposing fee fixes, Vitalik’s got the crypto world talking again—like always.

If you want to find out more, then click here!

🧱 Around The Block

• How stablecoins are revolutionizing E-commerce payments.

• Bitcoin reserves on exchanges plunge to an all-time low, but fundamentals remain strong. 

• Former FTX executive Ryan Salame begins his seven and a half year prison sentence.

• Stablecoin giant Tether celebrates 10th anniversary: The journey so far.

• Up to $1.3 billion in Ethereum from PlusToken ponzi scheme set to hit Exchanges.

• SEC admits their crypto approach has been ‘a disaster for the whole industry.’

• NFT artist DeeKay loses over $1 million in cyberattack during flight.

That's all we've got for you today.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.