MrBeast Buys Step Banking App to Blend TradFi With Crypto and DeFi

Beast Industries, the media and retail company founded by YouTube star Jimmy Donaldson, known as MrBeast, has acquired Step, a mobile-first banking platform built for younger users. The deal was announced on Monday, with financial terms remaining undisclosed. Step has grown to serve more than 7 million users by offering traditional finance tools for building credit, managing money, and learning investment basics.

The acquisition comes shortly after Beast Industries secured a $200 million investment from BitMine, a prominent Ethereum treasury firm. That funding round highlighted the company’s interest in blending traditional financial services with cryptocurrency opportunities. Donaldson has emphasized that the Step purchase is driven by his own experience of entering adulthood without formal financial education.

Focus on Financial Education and Digital Assets

Donaldson stated that he wants to provide the financial foundation he never had to millions of young people. By combining Step’s technology and team with Beast Industries’ massive global reach, the company aims to make financial wellness tools more accessible. Jeff Housenbold, CEO of Beast Industries, described financial health as a critical component of overall well-being and stressed the need for tech-driven solutions that help users develop long-term money-management skills.

Step was founded with a mission to improve the financial future of the next generation through credit-building features and educational resources. The platform previously raised around $500 million from high-profile investors, including Stephen Curry, Charli D’Amelio, and Justin Timberlake.

The timing of the acquisition aligns with Beast Industries’ broader expansion beyond entertainment. Only months ago, Housenbold signaled plans to enter regulated financial sectors, including a mobile platform tailored to MrBeast’s audience. The recent BitMine investment adds a clear cryptocurrency dimension, as the Ethereum-focused firm is led by industry veteran Tom Lee.

This combination positions Beast Industries to potentially bridge conventional banking with digital assets. Younger users already active on Step could gain exposure to crypto-related features in the future, while benefiting from the educational focus both companies share. Beast Industries continues to operate one of the largest YouTube channels worldwide, with over 460 million subscribers and billions of monthly views, alongside its Feastables snack brand and extensive philanthropic work.