will MrBeast pump $ETH?

Hi friends,

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The Boys

Writer: Deana

Editor: Miranda

Could it be…a bull case for Ethereum? You probably saw the news yesterday about MrBeast buying Step, a Gen-Z banking app with 7 million users. For background, Step had raised $500M from investors including Stripe, General Catalyst, Charli D'Amelio, Stephen Curry, and The Chainsmokers. As one does!

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Okay but what does this have to do with Ethereum? First, let’s pivot to Tom Lee. Tom is at the helm of the world’s largest corporate Ethereum stash, $BMNR ( ▼ 6.99% ), and invested $200 million into Beast Industries just last month. (Upsetting some shareholders.)

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Here’s where the theory becomes speculative. Bear with me! In a statement from January, Jeff Housenbold, CEO of Beast Industries, said the company would “explore ways to incorporate DeFi into our upcoming financial services platform.”

And we were all like…? What financial services platform? So we had a clue something was brewing, but it was unclear what.

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But now with the Step acquisition, the play is possibly becoming clearer. Step already lets teens build credit, save, and invest. So, if you were to put Step, Tom Lee, and Beast Industries into a blender, maybe you end up with onchain rails inside a Gen-Z finance product, distributed by the most subscribed YouTuber on planet Earth.

To be clear, nobody has yet said this will be built on or with Ethereum. A DeFi layer, should it appear, could land anywhere! We’re putting a lot on Tom Lee and co. getting into the right rooms with the right message.

BUT if any meaningful chunk of it ends up using Ethereum, it’s one of a few plausible paths to scaled onchain adoption that does not require millions of people to wake up and all of a sudden decide to they love crypto wallets. Which feels increasingly unlikely especially given recent sentiment signals.

IDK, I’m daring to dream folks! Change my mind!