Senator Elizabeth Warren has called out YouTuber MrBeast after he acquired a banking app for kids.
The Massachusetts Senator took to X (formerly Twitter) to raise the issue publicly, writing: “I have questions for MrBeast,” and following it up with an open letter.
She also posted a photo of herself with a caption explaining what prompted her concerns: “Elizabeth Warren on Beast Industries purchasing kid banking app Step.”
Warren’s criticism centers on whether the creator—whose real name is Jimmy Donaldson—could use the kid-focused finance platform to steer young users toward cryptocurrency following the acquisition.
Business Wire reported that Beast Industries completed the purchase in February, gaining access to Step’s reported user base of around seven million people.
At the time, MrBeast explained his interest in the app by saying he wanted to give “millions of young people the financial foundation I never had.”
Separately, MSN reported that in 2025 Donaldson filed a trademark application for MrBeast Financial, which included an app described as ‘providing cryptocurrency exchange services.’
He was also said to have received a $200 million investment from BitMine Immersion Technology in January.
Step’s own past messaging has also been highlighted in the debate. In 2022, the company said the app would allow ‘teens under 18 and young adults to buy, sell, hold and receive crypto’ while noting that ‘parents will be able to oversee their teen’s access’ and what they were investing.”
In her letter, Warren argued that Step’s approach created potential risks even with parental controls in place: “Despite Step’s careful claims that crypto investing by minors was only with the permission of a parent or guardian, Step published resources encouraging kids to pressure their parents into crypto investments.”
“Beast Industries is primarily an entertainment and consumer product company – and any foray into financial services, particularly services aimed at children – must be done with great care and in compliance with the law.”
She asked the company to provide additional details about what it plans to do with Step going forward.
Warren also warned that parents could be put in difficult positions by messaging aimed at kids: “Step, for example, produced a video titled ‘How to Talk to Your Parents About Investing in Crypto,’ which was targeted at kids whose parents ‘want nothing to do with crypto’ The video coaches children on how to convince their parents to let them make investments their parents may not want and includes specific scripts for children to use while talking to their parents.”
She specifically referenced content that allegedly offered children ready-made talking points, including a line telling them to ‘throw in something relatable like, ‘Mom, you’ve had apple stock forever, Bitcoin has just as much potential.’”
In the letter, Warren added that Donaldson’s influence could amplify the impact of the app on its young audience: “Paired with Mr. Donaldson’s very loyal following of children and teenagers, it is likely that many young people will trust Step with their funds, savings, and financial futures.”
She then listed multiple questions for Beast Industries about its plans and safeguards.
It remains unclear when—or whether—MrBeast will respond to Warren’s questions.