Kraken Backs Trump Accounts for Wyoming Newborns

TheNewsCryptoPublished on 2026-02-17Last updated on 2026-02-17

Abstract

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.

Kraken, a US-based crypto exchange, has promised to back President Donald Trump’s “Trump Accounts” move in Wyoming. Kraken has officially announced on February 16 that the exchange will sponsor Trump Accounts for every child born in Wyoming in this year by making a financial contribution to each eligible account as part of the federal program.

Talking about Trump Accounts, it is a new type of tax-advantaged retirement account that permits parents or legal guardians to open and contribute funds for children under the age of 18.

As per the federal pilot program, each U.S. citizen newborn born between Jan 1, 2025, and Dec 31, 2028, will be given a one-time $1,000 seed contribution from the U.S. Treasury. The given funds are then invested in applicable market index funds and grow on a tax-deferred basis till the child hits adulthood.

The co-Chief Executive Officer of Kraken, Arjun Sethi, made a statement mentioning that, by seeding accounts for every newborn this year, we are supporting families from day one and reinforcing Wyoming’s role as the USA’s home for responsible crypto leadership.

The Appreciation from the Community

Senator Cynthia Lummis appreciated the decision of the exchange to back Trump accounts in the state and mentioned that the investment will make sure children in Wyoming have a financial head start.

She further added that I am thankful for their commitment to the upcoming generation of Wyoming and to the Cowboy State’s economic future. However, the contribution amount hasn’t been disclosed by the exchange yet.

Kraken also mentioned that the decision was influenced by Wyoming’s favourable regulatory climate, where it was capable of becoming the nation’s first Special Purpose Depository Institution under the state’s crypto-orientated banking framework.

Another co-CEO, Dave Ripley, posted on X (formerly Twitter) that we chose Wyoming as our global headquarters because it results in a thoughtful, responsible crypto policy.

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TagsKrakenTRUMPUSA

Related Questions

QWhat is Kraken's commitment regarding Trump Accounts for newborns in Wyoming?

AKraken has promised to sponsor Trump Accounts for every child born in Wyoming in the current year by making a financial contribution to each eligible account.

QWhat is a Trump Account and what are its benefits?

AA Trump Account is a tax-advantaged retirement account that allows parents or legal guardians to open and contribute funds for children under 18, with funds growing on a tax-deferred basis until adulthood.

QWhat is the federal government's role in the Trump Accounts pilot program?

AThe U.S. Treasury will provide a one-time $1,000 seed contribution to each U.S. citizen newborn born between January 1, 2025, and December 31, 2028.

QWhy did Kraken choose Wyoming for this initiative?

AKraken was influenced by Wyoming's favorable regulatory climate, which allowed it to become the nation's first Special Purpose Depository Institution under the state's crypto-oriented banking framework.

QHow did Senator Cynthia Lummis react to Kraken's decision?

ASenator Cynthia Lummis appreciated the decision, stating that the investment will ensure children in Wyoming have a financial head start and thanked Kraken for their commitment to the state's future generations.

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