Overview
- MrBeast announced on Feb. 9 that Beast Industries is buying Step to expand access to money tools for teens and young adults, citing a goal of giving them a stronger financial foundation.
- Deal terms, purchase price and the integration timeline were not disclosed by the companies.
- Step reports more than 7 million users and backing from Stripe, General Catalyst, Coatue, Collaborative Fund, Crosslink Capital and celebrities including Stephen Curry, Charli D’Amelio, Justin Timberlake, Will Smith and The Chainsmokers.
- Step is a fintech, not a bank; its services run through partner Evolve Bank & Trust, an FDIC member, with media and company materials citing differing FDIC insurance limits for customer deposits.
- The acquisition follows a reported $200 million investment in Beast Industries from BitMine Immersion Technologies, and some coverage links that funding to potential digital‑asset ambitions, which have not been confirmed.