MrBeast Acquires Step Banking App for Teens After $200 Million BitMine Investment

TLDR

• Beast Industries, founded by YouTuber MrBeast (Jimmy Donaldson), acquired Step, a mobile banking app for teens and young adults
• The deal price was not disclosed, but Step has 6.5-7 million users and raised $500 million from investors like Steph Curry and Justin Timberlake
• MrBeast received $200 million from Ethereum firm BitMine Immersion Technologies in January 2025
• Step offers Federal Deposit Insurance Corporation-insured accounts through Evolve Bank & Trust, helping users manage money and build credit
• MrBeast filed a trademark for “MrBeast Financial” in October 2024, which mentioned cryptocurrency exchange services

Beast Industries, the company behind YouTube creator Jimmy “MrBeast” Donaldson, has purchased Step, a mobile banking application designed for teenagers and young adults. The acquisition marks the entertainment company’s first major move into financial services.

The purchase price remains undisclosed. Beast Industries did not respond to requests for comment about the transaction details.

Step launched in 2018 and has grown to serve between 6.5 and 7 million users. The app helps Gen Z customers manage spending, build credit history, and learn financial basics.

The platform partners with Evolve Bank & Trust to provide Federal Deposit Insurance Corporation-insured banking services. Users can access a Step Visa Card and accounts for saving, spending, and investing without monthly fees.

BitMine Investment Precedes Banking Deal

Beast Industries received $200 million from BitMine Immersion Technologies in January 2025. BitMine serves as the largest corporate holder of Ethereum cryptocurrency and is chaired by Fundstrat analyst Tom Lee.

Lee described the investment as a long-term bet on the creator economy. He noted MrBeast’s reach with Gen Z, Gen Alpha, and Millennial audiences.

The investment came months after Beast Industries filed a trademark application for “MrBeast Financial” in October 2024. That filing specifically referenced cryptocurrency exchange services, cryptocurrency payment processing, and decentralized exchanges.

The connection between the trademark filing and Step acquisition remains unclear. Beast Industries has not confirmed whether cryptocurrency features will be integrated into Step’s platform.

Step’s Growth and Backing

Step raised approximately $500 million from high-profile investors since its founding. Backers include NBA star Steph Curry, musicians Justin Timberlake and Charli D’Amelio, and actor Will Smith.

Fintech company Stripe also invested in Step, along with venture capital firms Coatue, Collaborative Fund, Crosslink Capital, and General Catalyst. Step founders CJ MacDonald and Alexey Kalinichenko, both fintech veterans, started the company to improve financial literacy for younger generations.

MrBeast’s Business Empire

MrBeast operates the largest YouTube channel on the platform with 466 million subscribers. His content generates roughly 5 billion monthly views across all channels.

Beyond YouTube, Beast Industries runs several ventures including Feastables, a snack food brand, and Beast Philanthropy, a nonprofit organization. The company also produces Beast Games, a reality competition series on Amazon Prime Video.

Beast Industries CEO Jeff Housenbold said Step’s user base and technology platform complement the company’s digital audience. The acquisition brings Step’s in-house fintech team under Beast Industries’ umbrella.

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