Kraken Backs Trump Accounts for Wyoming Newborns
Kraken, a U.S.-based crypto exchange, has announced it will support President Donald Trump's "Trump Accounts" initiative by sponsoring accounts for every child born in Wyoming in 2025. Trump Accounts are tax-advantaged retirement accounts that allow parents to save for children under 18. Under a federal pilot program, each U.S. newborn from 2025–2028 will receive a one-time $1,000 contribution from the U.S. Treasury, invested in index funds to grow tax-deferred until adulthood. Kraken's co-CEO Arjun Sethi stated the move supports families and reinforces Wyoming's role in crypto leadership. Senator Cynthia Lummis praised the decision for giving children a financial head start. Kraken cited Wyoming’s favorable crypto regulations as a key reason for the sponsorship. The exact contribution amount was not disclosed.
TheNewsCrypto02/17 10:47
