Senator Elizabeth Warren has formally questioned whether MrBeast, the YouTube megastar with over 472 million subscribers, intends to market cryptocurrency to teenagers through his acquisition of the teen-focused banking app Step.
In a letter to Beast Industries CEO Jeff Housenbold, Warren expressed alarm over trademark filings for "MrBeast Financial" and prior announcements that Step would allow users under 18 to buy, sell, and hold crypto-with parental oversight. She noted that Step’s own materials encouraged minors to pressure parents into crypto investments.
"Beast Industries is primarily an entertainment and consumer product company," Warren wrote. "Any foray into financial services, particularly services aimed at children, must be done with great care and in compliance with the law."
The senator demanded detailed information on Step’s crypto and NFT plans by April 3.
Beast Industries, founded by Jimmy Donaldson (MrBeast), acquired Step in February 2025 with a reported seven million users. The company also received a $200 million investment from BitMine Immersion Technology in January, further linking it to the crypto ecosystem.
Warren’s inquiry underscores growing regulatory scrutiny over influencer-driven financial products targeting minors.