Another day, another scam—Cardi B and MrBeast edition

GM. Feeling thirsty for market updates? We’ve got your crypto punch, shaken and stirred to keep you in the know.

🎤 UAE’s Securities and Commodities Authority (SCA) wants to investigate Cardi B’s new token, WAP.

📹 MrBeast allegedly made $10M from crypto pump-and-dumps.

🍊 News drops: Google Search no longer shows price charts for most cryptos, the Trump-backed DeFi platform World Liberty Financial already has over 100K signups + more

🍍 Market flavor today

Started from the bottom, now we’re here! The Fear and Greed Index hit 65, flipping the switch to “greedy” vibes today.

Bitcoin smashed through $66K yesterday and is still climbing. Why the rise? Well, Bitcoin often starts heating up in the second half of October, especially with US elections just around the corner. Besides, disappointing China’s economic stimulus is pushing capital away from their stock market and into BTC.

So, what’s next? Analysts are saying that if BTC breaks through the $70K resistance level, we might see it pick up some serious speed. Fasten your seatbelt; things are about to get interesting! 🌕🚀

🔫 Mr. & Mrs. B are killing crypto’s rep

Horror movies have the jock who ignores warnings and dies first, crypto has celebrities scamming their fans with sketchy tokens—we’ve seen it a million times and it’s getting old. But since they keep at it, we’ll keep calling them out. So, here’s the latest to join the scam club:

1/ Cardi B

A week ago, Cardi B started promoting a memecoin inspired by her hit song with Megan Thee Stallion, WAP (don’t ask me what that stands for).

At first, everyone thought her account got hacked—’cause, you know, that’s been kinda the thing lately. But nah, after a few more posts, it was clear Mrs. B was in on this one. And honestly, a hack would’ve been a better look.

X users were quick to flag her posts as most likely a scam, pointing to Bubblemaps’ receipts: 60% of the token supply was bundled, and insiders dumped $500K soon after launch. They even tried to hide by moving their tokens to new addresses one-by-one. Now I know what Cardi meant in that one song, where she says “be careful with me.”

This whole thing followed the usual scam script: celeb promotes a shiny new token → crowd goes wild, buys it → insiders dump → token crashes → investors left in tears.

But seems like UAE’s Securities and Commodities Authority (SCA) isn’t having it this time—they hit up the US SEC to request an investigation into WAP, saying it’s giving fraud. Crypto influencers who promoted the token, including @The__Solstice and @KookCapitalLLC, are also mentioned in the complaint.

Not so eeeooowww and okurrrrr after all, huh?.. 🙃

2/ MrBeast

Yup, the most-subscribed YouTuber, who many perceive as a Golden Retriever type of person, isn’t as squeaky clean as it may seem. Crypto investigator SomaXBT called MrBeast out on X, claiming that he made $10M from crypto pump-and-dumps.

Apparently, he’s been promoting various low-cap Initial DEX Offering (IDO) tokens (from projects like SuperFarmDAO, Polychain Monsters, SHOPX, Jigstack, and Virtue Poker), only to sell off when the hype peaked. Most of those projects? Down 90% now.

And to add fuel to the fire, YouTuber Rosanna Pansino once showed a screenshot where MrBeast’s supposed cousin, James Warren, bragged about how their crypto tactics would’ve had the SEC after them if it were the stock market.

If this is gonna be the next video he uploads, you heard it here first:

At this rate, I’m starting to think that disappointing your fans is some kind of new merch—if it is, both Cardi B and MrBeast are definitely killing it on this one. B-ware, folks!

📰 News drops

👀 Google Search no longer shows price charts for Bitcoin and most other cryptos. Funny enough, Dogecoin’s chart is still there.

🚀 Trump-backed World Liberty Financial says it’s already got over 100K signups ahead of its WLFI token launch today. The token will be an Ethereum-based ERC-20 and will serve as the governance token for the DeFi platform.

🦅 Kamala Harris is trying to win over the crypto crowd with her “Opportunity Economy” plan. The plan says that she’ll support clear crypto regulations “so Black men who invest in and own these assets are protected.”

🗣️ The Sui Foundation responded to accusations of insider trading and dumping $400M into the market. They made it clear that neither their team nor partners were involved in the huge SUI sell-off.

🧑‍💻 Core Foundation launched “Core Commit,” a three-month program to get developers building dApps on the Core blockchain. Participants get expert guidance, resources, and direct access to venture capital through Core Ventures and partners like Google, UTXO, and more.

🇧🇷 Brazil’s Central Bank is now taking applications for phase 2 of its CBDC pilot. They’re especially looking for business ideas that use smart contracts.

🏎️ Anthony Pompliano, founder of Professional Capital Management, believes Tesla could drive faster stablecoin adoption. He sees Tesla’s innovations as a the next era in automation, which could lead to a new era for money.

🍌 Juicy memes