Cryptocurrencies are becoming increasingly popular and widely used. This could soon be the case for the 447 million subscribers of YouTube star MrBeast, with a dedicated app.
MrBeast registers the trademark “MrBeast Financial”
Some initiatives aimed at the cryptocurrency sector attract more media attention than others. This is particularly true when it comes to internet stars, such as the world’s number one American YouTuber MrBeast and his 447 million subscribers.
It seems that James Stephen Donaldson, aka MrBeast, has been closely interested in this sector for many years. This was recently highlighted in an official trademark application filed by his company MrBeast Holding on October 13.
The trademark application was filed by a limited liability company (LLC in the United States) called “MrBeast Financial,” whose business activities apparently include decentralized cryptocurrency exchange (DEX) services, payment management, banking, and insurance.
Specifically, this trademark application covers three main areas:
- Software that can be downloaded as a mobile app;
- Banking and crypto services ranging from payments to DEX and loans;
- A Software as a Service (SaaS) solution associated with this type of financial service.
Defensive procedure or genuine crypto project?
This trademark application is part of a very prolific development strategy by MrBeast Holdings, which has already filed 52 such applications since its creation in multiple areas of activity, some of which have never progressed beyond this stage.
At the same time, MrBeast has been involved in the cryptocurrency sector for several years, to the point where he has sometimes been associated with highly dubious operations that border on illegality. This situation was highlighted last year by crypto investigator ZachXBT on the X network.
In any case, the desire of a YouTube star is not enough to bring this kind of project to fruition. MrBeast will first need to go through the necessary legal steps, such as registering as a money services business with FinCEN, obtaining a federal license, and getting approval from the SEC or CFTC, depending on the type of financial activities proposed.
At this time, no such application has been filed. The question therefore remains as to whether this trademark application is purely defensive—to prevent others from doing so in MrBeast’s place—or whether it implies a genuine desire to become more concretely involved in the crypto ecosystem. To be continued…
