A letter to the influencer and the CEO of his holding company expressed concerns about whether the two will allow minors to trade crypto through a recently acquired banking app.
Massachusetts Senator Elizabeth Warren has raised concerns about whether YouTuber Jimmy Donaldson, better known as “MrBeast,” intends to market cryptocurrency to teenagers and young adults following his purchase of a mobile banking app.
In a Monday letter to Donaldson, Warren questioned whether the online influencer planned to use his company’s acquisition of the mobile banking app Step to push crypto transactions and purchases on young people. Donaldson, a YouTuber who grew an online following due in part to his stunts and financial giveaways, founded his holding company, Beast Industries, in 2012 with the launch of his channel.
In February, the company acquired Step, with a reported seven million-person user base. At the time, Donaldson said the purchase was aimed at “giv[ing] millions of young people the financial foundation I never had.” An October 2025 trademark application for MrBeast Financial included plans for a mobile app “providing cryptocurrency exchange services.”
