MrBeast Promotes Step App Without Crypto Features

MrBeast Launches Step App Promotion

Popular YouTube creator Jimmy Donaldson, known as MrBeast, is actively promoting a financial app called Step. In an October 17 video featuring a weight-loss challenge, he deposited $175,000 into Step accounts for the winners.

Donaldson described Step as his brand new banking app during the video. However, app store listings clarify that Step is a financial technology company, not a bank. Banking services are provided by Evolve Bank & Trust.

The $200 Million Crypto Connection

Beast Industries acquired Step in February 2026. This acquisition followed a $200 million investment in Beast Industries by Bitmine Immersion Technologies, led by Tom Lee.

At the time of the investment, Bitmine expressed hope to reach MrBeast's young audience and speed up EthereumETH+1.03% product adoption. Beast Industries CEO Jeff Housenbold also noted interest in exploring decentralized finance (DeFi) integration.

Current Features Stick to Traditional Finance

Despite early expectations from crypto observers, Step's active features remain strictly focused on traditional financial services.

• Credit building tools for young users
• At least 1% cashback on eligible purchases
• A 3% promotional savings reward rate
• FDIC insurance up to $1 million via partner banks
• Cash advances ranging from $20 to $250

Step's updated terms of service from late September 2026 removed a dedicated section for crypto rewards. Step had previously discontinued its digital asset trading services in May 2024.

Future Plans and Political Scrutiny

While Step currently offers no active digital asset trading, its general terms still define rewards broadly enough to include cryptocurrency in the future if services resume.

In addition, trademark applications filed by Beast Holdings in late 2025 for 'Mr Beast Financial' included references to crypto exchanges and payment processing.

The platform's focus on young users has drawn attention from lawmakers. U.S. Senator Elizabeth Warren sent a letter to Beast Industries requesting details about the acquisition and consumer protections.

Past performance of digital assets is not a guarantee of future performance. Beast Industries has not yet announced formal plans to add crypto features to Step.