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Senator requests YouTuber MrBeast to disclose details about his cryptocurrency project., 2026/03/24 15:14:23
Senator Elizabeth Warren, a Democrat from Massachusetts, has requested information from Jimmy Donaldson, known as MrBeast, the founder of Beast Industries. The congresswoman aims to determine whether the individual with 472 million YouTube subscribers intends to promote cryptocurrencies to teenagers.
The blogger has acquired the mobile banking application Step. Warren noted in her letter that in 2022, Step entered into an agreement with the Zero Hash project and referred to itself as “the first app allowing teenagers to invest in cryptocurrencies with parental supervision.” The application offers access to over 50 digital assets.
Despite Step’s cautious statements indicating that investments in cryptocurrency by minors are permitted only with parental or guardian consent, Warren stated that Step has published materials encouraging children to persuade their parents to invest in cryptocurrencies.
The senator highlighted that Beast Industries primarily operates in entertainment and consumer goods, thus if it seeks to enter the financial market, particularly services for children, the company must exercise extreme caution and operate strictly within legal boundaries.
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Donaldson established his holding company, Beast Industries, in 2012. In February of this year, Beast Industries acquired Step, which has a user base of approximately 7 million individuals. MrBeast mentioned that this acquisition aims to provide millions of young people with a financial foundation that he himself lacked. In October 2025, the holding company filed for the trademark registration of MrBeast Financial and announced plans to develop a mobile application offering cryptocurrency exchange services.
The senator has demanded that by April 3, Donaldson and Beast Industries CEO Jeff Housenbold respond to her regarding whether they plan to allow young users to invest in cryptocurrencies or non-fungible tokens (NFTs).
Beast Industries already has financial ties to the crypto industry. In January, BitMine Immersion Technology, the largest corporate holder of Ethereum, invested $200 million in Donaldson’s company.
Recently, blogger Haliey Welch, known by her pseudonym Hawk Tuah Girl, spoke about her involvement in the issuance of the collapsed meme coin HAWK, with investor losses estimated at $200,000. Welch reported that she received death threats after the market capitalization of the HAWK meme coin soared to $500 million and then plummeted by over 90%. The young woman claims that she did not profit from the token.
