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.

Highlighted Crypto News Today:

Steak ‘n Shake Sees Sales Growth After Bitcoin Acceptance

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.

Related Reads

Is Quantum Computing A Threat To Bitcoin? ARK Invest Breaks It Down

ARK Invest and Unchained's research paper examines the potential threat quantum computing poses to Bitcoin's cryptography. The authors conclude it is a legitimate long-term concern but not an imminent threat. Current quantum systems are in the "NISQ era" with limited qubits and high error rates, far from the estimated requirement of at least 2,330 logical qubits to break Bitcoin's encryption. The report describes quantum development as a gradual progression, not a sudden event, providing ample warning and time for the market and network to adapt. It estimates that roughly 35% of Bitcoin's supply could theoretically be exposed, but many of these coins are either lost or can be migrated to safer address formats. The paper highlights that meaningful quantum breakthroughs would disrupt broader internet security first, triggering a coordinated response. While the technical risk is distant, it raises future governance challenges, as upgrading Bitcoin's cryptography would require community consensus. The authors frame the issue as a manageable long-term engineering problem rather than an abrupt point of failure.

bitcoinist46m ago

Is Quantum Computing A Threat To Bitcoin? ARK Invest Breaks It Down

bitcoinist46m ago

Pakistan Legislation: How Does South Asia's 'Crossroads' Anchor the Future of Digital Assets with Compliance?

Pakistan has passed the Virtual Asset Act and established the Pakistan Virtual Assets Regulatory Authority (PVARA), marking a shift from an unregulated environment to a formal regulatory framework for digital assets. The law defines virtual assets as a regulated asset class and mandates licensing for exchanges, custodians, and token issuers. PVARA will coordinate with anti-money laundering, tax, and national security agencies, integrating digital assets into the broader financial and security governance system. Situated at a geopolitical crossroads, Pakistan’s approach contrasts with its neighbors: Afghanistan’s regulatory vacuum, Iran’s state instrumentalization of crypto under sanctions, and the Gulf’s emerging compliance hubs like the UAE and Saudi Arabia. By adopting clear regulations, Pakistan aims to align with international standards and facilitate future cross-border cooperation with Gulf financial centers. The new regime signals increased compliance costs but reduced long-term uncertainty, potentially attracting institutional investment. It reflects a strategic effort to position Pakistan as an active rule-maker in regional digital economy dynamics, balancing prohibition and laissez-faire policies with a structured, compliant middle path.

marsbit1h ago

Pakistan Legislation: How Does South Asia's 'Crossroads' Anchor the Future of Digital Assets with Compliance?

marsbit1h ago

Firecrawl Launches Web Scraping Tool for Agents, NVIDIA Releases Nemotron 3 Super: What's the English Community Discussing Today?

Over the past 24 hours, key discussions in the English-speaking crypto and AI communities centered on several major developments. Firecrawl launched a CLI toolchain specifically for AI agents, enabling efficient web scraping and data extraction, though its pricing drew some criticism. Nvidia released Nemotron 3 Super, a 120B-parameter open-weight model with a 1M-token context window, raising both excitement and concerns over latency and safety. Google introduced Nano Banana 2, a high-speed image generation model, though its naming was met with mixed reactions. In AI agent infrastructure, Base44’s Superagent entered the cloud-based agent automation space, intensifying competition with local solutions like OpenClaw and raising debates over security and centralization. Ramp’s AI Index suggested Anthropic is gaining traction as the preferred enterprise AI vendor over OpenAI. In crypto, Solana continued to strengthen its infrastructure with DoubleZero Edge’s real-time market data via multicast technology and led in stablecoin transfer volume after filtering wash trading. Jupiter launched its Season 2 rewards program with a $2M JupUSD pool. Ethereum saw progress in L2 interoperability with on.eth addressing cross-chain identity fragmentation. Base ecosystem projects like Noise.xyz and rip.fun attracted significant attention, while Circle experimented with AI agents autonomously managing a hackathon using USDC. Perp DEX Lighter introduced a revised market structure to improve fairness, and prediction market platform Kalshi noted growing institutional engagement, with Marco Rubio emerging as an early favorite for the 2028 U.S. presidential election. Overall, themes included the shift toward cloud-based AI agents, model capability races, enterprise AI adoption, and the maturation of on-chain trading and prediction markets.

marsbit1h ago

Firecrawl Launches Web Scraping Tool for Agents, NVIDIA Releases Nemotron 3 Super: What's the English Community Discussing Today?

marsbit1h ago

Crypto Surveillance Surge? South Korea’s Tax Office Rolls Out Aggressive New Profit‑Tracking

South Korea's National Tax Service (NTS) is developing an AI-powered system to track cryptocurrency investment profits for taxation, set to launch in 2027. With a budget of $2 million, the "Comprehensive System for Virtual Asset Transaction Analysis" will aggregate data from exchanges and blockchain analytics to detect tax evasion. The move follows previous delays and recent crypto scandals, intensifying pressure for stricter oversight. Once operational, the system will monitor high-value transactions across borders, making tax avoidance riskier. This model may influence other high-tax jurisdictions, challenging crypto's status as an off-grid asset class.

bitcoinist2h ago

Crypto Surveillance Surge? South Korea’s Tax Office Rolls Out Aggressive New Profit‑Tracking

bitcoinist2h ago

Strategy’s STRC Funds 7,000 Bitcoin Purchase as Experts Warn High-Yield Risks

Strategy has purchased 7,000 Bitcoin this week using funds raised through its high-yield preferred stock, STRC, which offers investors an 11.5% yield with monthly payouts. The company has bought over 11,000 BTC in the past two weeks and accumulated roughly 34,000 BTC since STRC’s launch. STRC is a perpetual preferred stock designed to trade near its $100 face value, though it has occasionally dipped below that level, prompting Strategy to raise dividends to attract buyers. Experts, including Two Prime CEO Alexander Blume, caution that high yields like STRC’s come with elevated risks, especially given Bitcoin’s volatility. Despite the risks, strong investor demand continues to fund Strategy’s rapid Bitcoin acquisitions.

TheNewsCrypto2h ago

Strategy’s STRC Funds 7,000 Bitcoin Purchase as Experts Warn High-Yield Risks

TheNewsCrypto2h ago

Trading

Spot
Futures
活动图片

Hot Categoriesright-arrow

Hot Tagsright-arrow