US Senator Warren questions Beast Industries' acquisition of Step
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Senior Democratic member of the U.S. Senate Banking Committee Elizabeth Warren has sent a letter to MrBeast (Jimmy Donaldson) and the CEO of Beast Industries, expressing concerns over the company's acquisition of fintech firm Step. Step previously allowed minors to invest in cryptocurrencies and NFTs under parental supervision. Warren noted that about 39% of MrBeast's audience is aged 13 to 17, and requested clarification on whether Step will continue to provide crypto investment services and what user fund protection measures will be implemented, with a deadline for response set for April 3. Beast Industries responded that it will carefully review Step's existing business to ensure compliance.
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