In an unexpected turn of events in my writing career, Carl “The Moon” Runefelt reached out to me requesting an “update to old information” in a May 2022 article. The article had briefly mentioned his involvement with the crypto payment platform Kasta, but a year later, Runefelt felt compelled to emphasize that he was only an investor and not the co-founder of Kasta.
This request was quite peculiar, particularly because Runefelt had already provided extensive comments on a prepublication draft of the original article. At one point, he criticized the mention of “haters” who accused him of manipulating YouTube video titles to make past predictions seem accurate, deeming it unprofessional. He compared it to including comments from flat-earthers in an article about SpaceX CEO Elon Musk’s rockets.
“I need to focus on what’s real, what’s correct,” Runefelt insisted.
Runefelt is a crypto influencer known for flaunting a luxurious lifestyle in YouTube videos where he offers insights and market analysis on cryptocurrencies. Just a few years ago, he was a high-school dropout working as a cashier in Sweden. He preaches the concept of “the law of attraction,” which suggests that one can shape reality by strongly believing in their desired version of it.
Now, Runefelt is attempting to distance himself from Kasta, which has since been renamed Ka.app. However, despite his claims, it turns out that Runefelt was indeed a co-founder of the platform.
But let’s return to Runefelt’s version of reality. He explained that the co-founder label was the result of confusion stemming from an online rumor. Annoyed, he remarked, “People say many different things — people say I’m the billionaire, bla bla bla — something takes off, and then everyone just goes with it.”
I asked him, “So, there are three co-founders, and you were never one of them, right?” referring to the names listed on Kasta’s website – CEO Carl Roegind, CTO Sebastian Appelberg, and CPO Hans-Herko Lusmägi. “Exactly,” Carl Runefelt replied, suggesting that there had likely been a mix-up in identities with the CEO, who has a similar name.
After informing Runefelt that articles are not edited after the fact unless there were mistakes at the time, he insisted that a journalistic error had been made and that it needed to be corrected.
I pressed Runefelt for more details, asking if he had made an assumption based on reading someone else’s account. He replied hesitantly, “Well yeah, but no worries, no worries.”
But there was no mistake.
Upon reviewing our interview notes from my visit to his Dubai office in May 2022, it became clear that Runefelt had explicitly mentioned his role as a co-founder of Kasta. He stated, “Me and my best friend, two years ago we came up with the idea… that’s why we founded Kasta.” He also mentioned receiving media attention from Yahoo Finance and Fox Business.
Confronting Runefelt with this information, I pointed out that the description of “co-founder” did not arise from online rumors but from his own statements. He admitted, “I did help out with some brainstorming, but I may have over-exaggerated my involvement at that stage… but co-founding it, it’s not accurate. I don’t have equity in it.”
I asked him to clarify if he had never referred to himself as a co-founder or led people to believe that, to which he replied, “Exactly.”
But that was not the case.
On both Yahoo Finance and Fox Business, the very media platforms he mentioned during our May 2022 interview, Runefelt did refer to himself as a co-founder. In a Yahoo Finance video titled “Crypto app Kasta aims to lower cost of small transactions,” Runefelt introduced himself as Kasta’s co-founder. He reiterated this claim in the same video, stating, “We’re four co-founders, in fact.” An article by Flaunt also referred to Runefelt as a co-founder alongside Carl Roegind, Hans Lusmagi, and Sebastian Appelberg.
In a later appearance on Fox Business, host Liz Claman introduced him as the co-founder of Kasta. Once again, Runefelt crowned himself with this title, now dismissing it as a mere internet rumor.
I revealed this video evidence to Runefelt, who tried to brush it off, attributing it to confusion and marketing. He insisted that he was not operationally involved in the company, despite his active role in the media. He claimed, “I’m not actually a co-founder… Nope. And they know it and they’re OK with it,” referring to the three “real” co-founders.
“But you went on Yahoo Finance and Fox Business and said that you were a co-founder?” I asked incredulously. Runefelt replied matter-of-factly, “Exactly. I guess I’m just changing the narrative.”
He said this without a hint of irony, as if Cointelegraph were his personal public relations agency and narratives could be altered simply by declaration. He wasn’t “trying” to change the narrative; he was actively changing it.
Runefelt argued that he couldn’t claim to be a co-founder since he didn’t have equity in the company. However, this view seems to lack substantial support. In the past, Runefelt clearly stated that he participated in the early-stage brainstorming of Kasta’s ideas and co-founded it with a friend. Despite his attempts to reshape the facts, we are noting this for the record.
Elias Ahonen, a Finnish-Canadian author based in Dubai, who has been involved in the blockchain industry since purchasing his first Bitcoin in 2013, wrote this article. His book, Blockland, tells the story of the industry. Holding an MA in international and comparative law, Ahonen explores NFT and metaverse regulation in his thesis.
Please note that this article is for general information purposes and should not be considered legal or investment advice. The opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.