Crypto Updates

The story of a crypto influencer’s attempt to bend reality

The story of a crypto influencer’s attempt to bend reality

In one of the weirder moments of my writing career, Carl “The Moon” Runefelt contacted me out of the blue seeking an “update to old information” in a May 2022 article. The article had touched on his involvement with the crypto payment platform Kasta, but Runefelt felt a pressing need a year later to get the copy changed to highlight the fact he was “not the co-founder of Kasta, only [an] investor.”

An unusual request after so long — especially considering he had already made extensive comments after reading a prepublication draft of the original article. He’d argued at one point that a mention in that article of “haters” who accused him of editing YouTube video titles in order to make past predictions appear accurate was “clearly unprofessional.” He suggested it was analogous to an article about SpaceX CEO Elon Musk’s rockets including comments from flat-earthers.

“I gotta focus on what’s real, what’s correct,” Runefelt said.

Runefelt is a crypto influencer known for showing off a lifestyle of private jets, supercars and million-dollar watches while making faces in YouTube videos purporting to offer crypto insights and market analysis. A high-school dropout who worked as a cashier in Sweden just a few years ago, Runefelt preaches “the law of attraction,” which essentially posits that one can bend reality by believing hard enough in one’s desired version of it.

Kasta, now called, is the crypto app that Runefelt is apparently trying to distance himself from. As it turns out — despite his version of reality — Runefelt was indeed a co-founder.

First, let’s get back to Runefelt’s reality. He explained that the co-founder label  a result of confusion due to an online rumor. “People say many different things — people say I’m the billionaire, bla bla bla — something takes off, and then everyone just goes with it,” he remarked with annoyance.

“Even though I never told people my net worth, the same with me being co-founder [of Kasta] — I’m just trying to clean this stuff.”

The price of KASTA fell about 98% between its January 2022 launch and September 2023. Source: CoinMarketCap

“There’s three co-founders, and you’ve never been one of them, right?” I asked, referring to the three names — CEO Carl Roegind, chief technology officer Sebastian Appelberg and chief product officer Hans-Herko Lusmägi — listed on the firm’s site. “Exactly,” Carl Runefelt replied, explaining that there…

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