Cardi B and MrBeast have found themselves in hot water as their involvement in crypto scams has been exposed. Cardi B’s new token, WAP, inspired by her hit song with Megan Thee Stallion, has raised suspicions due to shady practices such as insiders dumping tokens soon after launch. The UAE’s Securities and Commodities Authority (SCA) has requested an investigation into the token, citing potential fraud.
On the other hand, MrBeast, known for his philanthropic endeavors, has been accused of making $10M from crypto pump-and-dumps. Crypto investigator SomaXBT called out MrBeast for promoting low-cap Initial DEX Offering (IDO) tokens and selling off when the hype peaked, leading to significant losses for investors.
Both celebrities have tarnished their reputations in the crypto world, with fans feeling disappointed and betrayed. The news of their involvement in these scams has shocked many, highlighting the risks associated with celebrity-backed tokens and the importance of due diligence in the crypto space.
In other news, Google has dropped crypto price charts from its search results, while Trump-backed World Liberty Financial has garnered over 100K signups ahead of its token launch. Kamala Harris is also making moves to win over the crypto crowd with her “Opportunity Economy” plan, emphasizing the need for clear crypto regulations to protect investors.
As the crypto world continues to evolve, it’s essential for investors to stay vigilant and informed to avoid falling victim to scams and fraudulent schemes. Cardi B and MrBeast serve as cautionary tales of the dangers lurking in the crypto market, reminding everyone to exercise caution and do their research before investing in any token or project.
