Elizabeth Warren raises concerns over MrBeast’s teen banking app — and its connection to a troubled bank

Site SearchClearSEARCHAdvanced Search ➔Search ResultsSymbolsNo results foundAll NewsArticlesVideoPodcasts0 ResultsNo Results FoundAuthorsNo results foundSectionsNo results foundColumnsNo results found Elizabeth Warren raises concerns over MrBeast’s teen banking app — and its connection to a troubled bankThe senator questioned the app’s connection to Evolve Bank & Trust, which has faced multiple setbacksLast Updated: March 25, 2026 at 9:46 a.m. ETFirst Published: March 24, 2026 at 12:19 p.m. ETShareResizeListen(3 min)Sen. Elizabeth Warren has laid out her concerns about the YouTube star MrBeast’s plans to run a fintech with a connection to a troubled bank and a history of marketing cryptocurrency investments to minors. Photo: MarketWatch/Getty ImagesSen. Elizabeth Warren is raising concerns about a popular YouTuber’s recent venture into financial services with his acquisition of a banking app called Step and its connection to a bank with a troubled history. Warren sent a letter to Jimmy Donaldson, better known as MrBeast, laying out concerns about Donaldson’s fitness to run a fintech, the app’s history of marketing cryptocurrency investments to minors and its connection to Evolve Bank & Trust, an institution that has faced scrutiny from regulators. About the Author Genna ContinoGenna Contino is the Smart Spending reporter on MarketWatch's personal finance desk. She previously covered personal finance for CNBC as well as city hall for The Charlotte Observer in North Carolina. She graduated from the Craig Newmark Graduate School of Journalism at the City University of New York in 2024.Show Conversation (0)Back To TopA Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.Terms of UsePrivacy NoticeCookie NoticeArchive MarketwatchCustomer CenterContact UsNewslettersNewsroom RosterVirtual Stock ExchangeMarketWatch GuidesCopyright PolicyManage NotificationsCancel My SubscriptionCompanyDow JonesCode of ConductCorrectionsReprints & LicensingDigital Self ServiceYour Ad ChoicesCorporate SubscriptionsAccessibilityDow Jones NetworkThe Wall Street JournalBarron'sInvestor's Business DailyFinancial News Londonrealtor.comMansion GlobalDow Jones Smart MoneyIntraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.