Step Deal Draws Senate Scrutiny Over Teen Crypto Access

Sen. Elizabeth Warren is turning up the pressure on Beast Industries after it acquired Step, a fintech app built for teenagers that once allowed minors to trade crypto with parental approval.

In a letter dated March 23, Warren asked Beast Industries founder Jimmy Donaldson, widely known as MrBeast, and CEO Jeff Housenbold to explain what comes next for Step and whether crypto or NFT investing could return to the platform. She requested a response by April 3.

Warren said any move by Beast Industries into finance, especially for young users, “must be done with great care and in compliance with the law.” She also warned that many children and teenagers may trust the brand with…