TLDR
- MrBeast’s Beast Industries completed acquisition of Step, a mobile banking app serving 7 million teenagers and young adults
- Transaction follows $200 million investment from BitMine Immersion Technologies, largest corporate Ethereum holder, in January 2025
- Step offers FDIC-insured banking accounts, credit building tools, and financial education through partnership with Evolve Bank & Trust
- Beast Industries filed “MrBeast Financial” trademark in October 2024 listing cryptocurrency exchange and payment processing services
- Purchase price undisclosed; Step raised $500 million from investors including Stripe, Steph Curry, and Justin Timberlake
YouTuber Jimmy “MrBeast” Donaldson is moving into financial services. Beast Industries, his entertainment company, purchased Step, a banking application designed for teenagers and young adults.
The acquisition gives Beast Industries control of a platform serving 7 million users. Step provides banking tools, credit building features, and financial education resources.
Donaldson announced the deal Monday through social media. He said the goal is providing young people with financial knowledge he missed during his youth. “Nobody taught me about investing, building credit, or managing money when I was growing up,” Donaldson wrote.
Beast Industries kept the purchase price confidential. The company did not respond to inquiries about transaction details.
Step Platform and Banking Services
Step launched in 2018 under founders CJ MacDonald and Alexey Kalinichenko. The fintech veterans created the app to address financial literacy gaps among Gen Z.
The platform works with Evolve Bank & Trust to deliver Federal Deposit Insurance Corporation-insured banking services. Users access a Step Visa Card and accounts for spending, saving, and investing.
Step charges zero monthly fees. The app helps young users manage money, track spending, and establish credit history.
Beast Industries CEO Jeff Housenbold described financial health as fundamental to wellbeing. He said many people lack access to necessary financial tools and knowledge.
BitMine Investment and Crypto Connections
Beast Industries received $200 million from BitMine Immersion Technologies in January 2025. BitMine operates as the largest corporate holder of Ethereum cryptocurrency.
Tom Lee, BitMine’s chairman and Fundstrat analyst, characterized the investment as a creator economy bet. He highlighted MrBeast’s engagement with Gen Z, Gen Alpha, and Millennial audiences.
Beast Industries submitted a trademark application for “MrBeast Financial” during October 2024. The filing mentioned cryptocurrency exchange services, crypto payment processing, and decentralized exchange operations.
The relationship between the trademark and Step purchase remains unclear. Beast Industries has not announced cryptocurrency integration plans for the Step platform.
Investor Support and Market Position
Step secured approximately $500 million in funding since inception. Celebrity investors include basketball star Steph Curry, musicians Justin Timberlake and Charli D’Amelio, and actor Will Smith.
Payment technology company Stripe backed Step along with venture capital firms Coatue, Collaborative Fund, Crosslink Capital, and General Catalyst. The user base grew from zero to 7 million over eight years.
MrBeast operates YouTube’s largest channel with 466 million subscribers. His content generates roughly 5 billion monthly views across all channels.
Beast Industries manages several ventures beyond YouTube content. The portfolio includes Feastables food products, Beast Philanthropy charitable operations, and Beast Games competition series on Amazon Prime Video.
Housenbold said Step’s technology infrastructure and fintech expertise align with Beast Industries’ digital reach. The acquisition transfers Step’s complete team and platform under Beast Industries ownership.
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