Crypto Influencers or Manipulators? Uncovering the Secret World of Market Influence

Crypto Influencers or Crypto Manipulators? The Shadowy World Behind the Scenes
The crypto world thrives on hype, and with it, the power of influencers who can make or break projects with a single tweet. But when the people with the loudest voices have the most to gain, it’s fair to ask: are they just sharing “alpha,” or are we looking at orchestrated schemes to drive prices up and offload bags onto the unsuspecting?

A recent investigation into an alleged private call among influencers—including YouTube juggernaut MrBeast, NFT evangelist Gary Vee, and other prominent figures—paints a troubling picture. With millions of dollars in profits, carefully timed buys and sells, and coordinated “advice” that seemed to only benefit a few, it’s time to question whether we’re watching market influencers or market manipulators.

The Infamous “CryptoPunks Call” and the Rise of NFT Prices
When MrBeast casually mentioned on a Logan Paul podcast that he was on a call with “30 other influencers” discussing the purchase of CryptoPunks, he might have thought he was casually dropping some alpha. Instead, he may have accidentally lifted the curtain on a coordinated scheme to drive up CryptoPunk prices. Soon after, prices for CryptoPunks skyrocketed:

Feb 2021: CryptoPunk floor at 5.1 ETH
March 2021: Leaps to 22 ETH
August 2021: Hits a dizzying peak at 125 ETH
By Year’s End: Stabilizes around 65 ETH
Who was on that call? Among others, it included MrBeast, FaZe Banks, and allegedly, Gary Vee—each a heavyweight capable of influencing market sentiment with ease. But this wasn’t just another “diamond hands” story; it was a carefully orchestrated movement that seems to have left regular investors holding the bag.

The Puppet Masters: Wallets Don’t Lie
Blockchain investigator SomaXBT and on-chain analyst Hunter teamed up with analysts from Loock.io to dig deeper into the activities of these influencers. What they found is a disturbing pattern of interconnected wallets, private transfers, and lucrative flips:

MrBeast (Jimmy Donaldson)

Bought multiple CryptoPunks during the low-ETH period, only to sell them at peak prices.
CryptoPunk 939 bought at 50 ETH, sold for 80 ETH.
CryptoPunk 898 bought at 22.22 ETH, sold for 75 ETH.
Each of these trades points to carefully timed exits just as prices hit their highs.
Logan Paul

Known for his love of NFTs, Logan was one of the biggest names involved. Blockchain records show movement of NFTs across various wallets, hinting at possibly hidden trades.
OpenSea activity associated with Logan suggests flips that occurred during prime periods, though some sales remain opaque due to wallet shuffling.
FaZe Banks (Richard Bengston)

Admitted to flipping a CryptoPunk for half a million dollars. Banks allegedly bought 8 CryptoPunks, flipping many during peak moments and walking away with substantial gains.
Each of these influencers, knowingly or unknowingly, participated in what looks like coordinated timing. Through a combination of wallet transfers and well-placed social media hints, they stoked excitement—and the result was a massive spike in demand.

Enter the “Motivational Speaker” – Gary Vee’s Influence on the Market
And then there’s Gary Vee, a name that has become almost synonymous with NFTs. Known for pumping NFT projects via his massive social media following, Gary’s role in the “CryptoPunks Call” has sparked particular interest. On February 21, 2021, he cryptically tweeted “HODL” with a GIF, just days before the Punks floor took off. By August, he tweeted again about the Punk floor, right before another spike.

Was Gary Vee merely a visionary with impeccable timing, or was this a carefully calculated maneuver to drive up prices? Investigators found evidence that Gary might be operating through multiple wallets, with funds being strategically moved to obscure his involvement in various trades.

Gary Vee’s Inner Circle: Collateral Players or Co-Conspirators?
Gary’s influence extended beyond his own trades. Analysts discovered similar patterns in the wallets of his close associates, including:

Andy Krainak: The President of VeeFriends, who also made timely buys and sells of CryptoPunks. One Punk bought for 14.75 ETH was sold for 35.55 ETH, while another bought for 69.69 ETH was flipped for 110 ETH in less than three weeks.

Tyler Schmitt: A Gary Vee associate with lesser activity but still notable, his Punk purchases showed strategic timing, although not as aggressively as others.

While not every insider demonstrated clear-cut signs of market manipulation, the repeated success of Gary’s circle points to the possibility of coordinated trading activity.

The Bigger Picture: Was This Just the Tip of the Iceberg?
Could the CryptoPunks pump-and-dump be just one chapter in a larger playbook? The influencers involved made millions while the average investor, enticed by the hype, often ended up with depreciating assets. Meanwhile, the sheer volume of influencers coordinating in private, exclusive calls suggests a systematic approach to market manipulation.

The implications go beyond just NFTs. If the alleged coordination can be proven, it would confirm suspicions that much of the crypto market is manipulated not by faceless whales but by familiar faces that everyone trusts. After all, how many “alpha-sharing” influencer calls are happening right now behind closed doors?

Was This About Money, Legitimacy, or Both?
There’s another layer to this scandal. For many, crypto is a fast track to wealth, but for these influencers, it’s also about establishing their dominance and legitimacy in the space. Coordinated pumps not only bring financial gains but also bolster their reputation as “crypto pioneers,” allowing them to promote future projects with an air of credibility. When they jump on the next bandwagon, people will follow, unknowingly becoming exit liquidity.

Are We All Just Puppets in the Pump Show?
It’s worth asking ourselves: Are we really making our own decisions, or are we just pawns in a game orchestrated by influencers with hidden agendas? In a market as volatile and easily influenced as crypto, the line between authentic value and manipulated hype blurs dangerously.

For the regular investors, this should serve as a wake-up call. The next time an influencer tells you to buy something, remember this: they may already have tomorrow’s script. The blockchain never forgets, and maybe, neither should we.

Final Thoughts
In the end, the truth about the “CryptoPunks Call” might never fully come to light. But this investigation into MrBeast, Logan Paul, FaZe Banks, and Gary Vee serves as a reminder: behind every hyped-up call, there’s a chance that the people hyping it stand to gain a lot more than you. And when the price starts to tumble, they’ll be cashing out while you’re left holding the bag.

So, before you ape into the next big thing, ask yourself: Are you really in on the ground floor, or are you just another player in someone else’s pump-and-dump scheme?