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YouTuber Stephen "Coffeezilla" has released a new video, discussing his findings on the cryptocurrency scandal involving Jimmy "MrBeast." For those unaware, in October 2024, the most subscribed YouTuber was accused of making $23 million using over 50 cryptocurrency wallets with a history of insider trading.
In a video titled, Investigating MrBeast, Coffeezilla discussed the controversy in-depth and shared his opinions on the matter. At one point, he said he contacted the Kansas native and his team for their response to the scandal. However, he claimed he received a "heavily lawyered statement" that "complicated things."
Here's what Coffeezilla claimed Matthew Hiltzik, MrBeast's spokesperson, wrote in a statement:
"These investments were made and managed in consultation with industry experts to ensure full compliance with all appropriate rules and regulations. The wallet is not owned or managed by Jimmy, but rather a fund led by respected and sophisticated managers. The fund closely evaluated and scrutinized hundreds and hundreds of opportunities, which resulted in several investments - some have been more successful, others less, and others still works in progress. The fund's investment strategies apply the same rigorous standards as many other experienced investors in the field."
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Commenting on this response, Coffeezilla said MrBeast's spokesperson "blamed" the alleged cryptocurrency scam on a "fund":
"Now, I have a lot of questions. But the big thing is, Jimmy denies doing any of trading or managing the trading, and blames it on a fund."
The YouTube investigator followed up with some "obvious questions" regarding the situation. However, he claimed to have received no response:
"So, I asked some obvious follow-up questions, 'What is the name of this fund?' 'Who are the industry experts that were consulted?' And, 'What were the rules and regulations were followed that allowed you to tweet about a coin while your fund is selling?' I didn't get a response."
Who is Matthew Hiltzik? Rosanna Pansino's old X post revisited, in which she said MrBeast hired prominent lawyer to "rebuild his public image"
On August 13, 2024, YouTuber Rosanna Pansino took to X to claim that MrBeast hired a crisis management company owned by Matthew Hiltzik. For context, Hiltzik is a 52-year-old American lawyer who has represented and worked with high-profile individuals such as Brad Pitt, Katie Couric, and Harvey Weinstein.
Stating that the 26-year-old internet star had hired Hiltzik to "rebuild his public image," Rosanna Pansino posted:
"MrBeast has hired Matthew Hiltzik's Crisis Management Company. Matthew Hiltzik began his PR career at Weinstein's Miramax. Matthew Hiltzik is a Lawyer and Publicist who represents Politicians and Hollywood Figures. Shortly after MrBeast hired Matthew, a MrBeast Company email was 'Leaked.' I believe this was their 1st strategic move attempting to rebuild Jimmy's image to the public."
As of this writing, MrBeast has not commented on his association with the alleged cryptocurrency scam.
