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- Source: inbox/queue/2026-03-26-banking-dive-beast-industries-evolve-warren-regulatory.md - Domain: entertainment - Claims: 0, Entities: 1 - Enrichments: 4 - Extracted by: pipeline ingest (OpenRouter anthropic/claude-sonnet-4.5) Pentagon-Agent: Clay <PIPELINE>
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1.1 KiB
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26 lines
No EOL
1.1 KiB
Markdown
# Step
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**Type:** Fintech company (teen-focused banking app)
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**Status:** Acquired by Beast Industries (Feb 2026)
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**Domain:** entertainment
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**Tags:** fintech, creator-economy, teen-banking, beast-industries
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## Overview
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Step is a teen-focused fintech app with 7M+ users at time of acquisition. Banking services provided through partnership with Evolve Bank & Trust (FDIC insured up to $1M).
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## Key Details
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- **Investors:** Stephen Curry, Charli D'Amelio, Justin Timberlake, Will Smith
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- **Banking Partner:** Evolve Bank & Trust
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- **User Base:** 7M+ users (primarily teens)
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## Timeline
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- **2026-02-09** — Acquired by Beast Industries
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- **2026-03-XX** — Senator Elizabeth Warren raised concerns about acquisition due to Evolve Bank's compliance history (AML enforcement action, Synapse bankruptcy role, data breach)
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## Sources
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- CNBC: https://www.cnbc.com/2026/02/10/youtube-mrbeast-youth-financial-services-app-step-beast-industries-acquires-fintech-app.html
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- Banking Dive: https://www.bankingdive.com/news/mrbeast-fintech-step-banking-crypto-beast-industries-evolve/815558/ |