Kraken Backs Trump Accounts for Wyoming Newborns

TheNewsCryptoОпубликовано 2026-02-17Обновлено 2026-02-17

Введение

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

Связанные с этим вопросы

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.

Похожее

SharpLink CEO: How to Interpret Ethereum Developers Surpassing 1 Million?

SharpLink CEO reflects on the milestone of Ethereum surpassing one million historical developers, a figure unmatched in crypto. Based on Electric Capital data and observations from Asian developer hubs, the article argues that Ethereum’s true strength isn't raw speed, but where top builders choose to build long-term. The core advantage is a decade-deep ecosystem of standards, tools, liquidity, and culture. Of the over one million developers, about 232,000 were active in the past year, working on hard problems: protocol scalability (e.g., the upcoming Glamsterdam upgrade), synchronous composability across rollups, and post-quantum security preparedness. Ethereum’s defensibility stems from network effects beyond numbers: deep composability (the "financial Lego" of DeFi), the universal EVM/Solidity stack, credible neutrality (secured by ~900k validators), and its role as the trusted settlement layer for major institutions. The convergence of top researchers, a modular rollup ecosystem, and a culture of long-term thinking create a compounding advantage that is difficult to replicate. The conclusion is that Ethereum has consolidated its position as the default operating system for programmable finance and internet-native capital, attracting the builders who are architecting the next generation of financial infrastructure.

marsbit2 мин. назад

SharpLink CEO: How to Interpret Ethereum Developers Surpassing 1 Million?

marsbit2 мин. назад

SharpLink CEO: How to Understand Ethereum Developers Just Exceeded 1 Million?

SharpLink CEO reflects on the milestone of Ethereum surpassing 1 million historical developers, emphasizing that this figure represents the largest pool of technical talent ever assembled around an open, permissionless blockchain network. While approximately 232,000 developers remain active, the key question for the crypto industry is not which chain is fastest, but where the best builders choose to build long-term. Ethereum's advantage lies in a decade-long accumulation of infrastructure, standards, tools, liquidity, and a cohesive culture, making it the default operating system for programmable finance. This developer base is tackling complex challenges: the Glamsterdam upgrade aims to enhance scalability while preserving core principles; synchronous composability seeks to unify Rollup ecosystems; and significant efforts are underway for post-quantum security. Ethereum's deeper network effects stem from composability and shared standards (like the EVM and Solidity), creating a flywheel of more developers, tools, and liquidity. Three reinforcing strengths cement Ethereum's lead: credible neutrality (secured by ~900k validators), a modular architecture with interconnected Rollups, and a culture that attracts top researchers. The ecosystem is consolidating as the trusted coordination layer for internet-native finance, favored by large institutions valuing security and liquidity. The future of Ethereum is being built by this global community of founders and architects.

链捕手6 мин. назад

SharpLink CEO: How to Understand Ethereum Developers Just Exceeded 1 Million?

链捕手6 мин. назад

A Clod of Chinese Soil Chokes Two Japanese Giants

"Chinese Soil Chokes Japanese Giants" The production of a key electronic specialty gas, tungsten hexafluoride (WF6), vital for manufacturing AI chips, was halted by two leading Japanese producers—Kanto Denka and Central Glass. Their shutdown was not due to a technological failure but a sudden, critical shortage of a raw material they had long taken for granted: ultra-high-purity (6N-grade) tungsten powder, which is almost entirely sourced from China. Following a quiet Chinese export announcement in January 2026, tungsten powder shipments to Japan dropped to zero for months. Despite frantic efforts, Japanese companies found no viable alternative; imported powder was three times more expensive and lacked the required purity. Their existing stockpiles were exhausted by mid-2026. WF6 is essential for depositing tungsten into the microscopic contact holes of High Bandwidth Memory (HBM) chips, which are crucial for advanced processors like those from Nvidia. While Japanese firms had mastered producing ultra-pure WF6 gas, their entire supply chain relied on China's 6N tungsten powder—a dependency now revealed as a fatal vulnerability. China's dominance in this "soil" results from decades of painstaking R&D by companies like Xiamen Tungsten and China Tungsten & Hightech. They overcame immense technical hurdles, such as separating chemically similar molybdenum from tungsten, to achieve mass production of the world's purest tungsten powder. With their primary suppliers gone, Kanto Denka and Central Glass announced a permanent halt to WF6 production starting July 1, 2026. This immediately created a supply crisis for major semiconductor manufacturers like Samsung and SK Hynix, forcing them to urgently seek and certify new Chinese suppliers for WF6 itself. The reversal marks a dramatic shift: China has moved from exporting low-value raw materials to controlling the high-purity foundation of a critical global tech supply chain, upending a long-established industrial hierarchy.

marsbit37 мин. назад

A Clod of Chinese Soil Chokes Two Japanese Giants

marsbit37 мин. назад

From Identity Protocol to AI Gateway: How Ambitious Is World?

The article discusses Worldcoin's (WLD) evolution from a "proof of personhood" network to a potential identity infrastructure for the AI era. Initially focused on unique digital identities via iris scans, Worldcoin faced skepticism over real-world use cases. However, entering "The Simple Plan" Phase 3, it's shifting from token incentives to utility-driven growth. Key applications are emerging: enterprise solutions (e.g., deepfake verification with Zoom, Okta), consumer use cases (e.g., reducing bots on Tinder or in ticket sales), and notably, the AI Agent sector via AgentKit, which aims to establish trusted authorization between humans and AI agents. The author argues AI's proliferation makes authentic human identity a scarce and valuable resource. Worldcoin's strategy is now focused on key markets for network effects and developing self-service Orb hardware to scale sustainably. The launch of World ID 4.0 introduces a fee model for issuers/protocols, creating a potential revenue stream. In conclusion, WLD's rise reflects a market reassessment. Worldcoin's ambition is to become the foundational identity layer and crucial entry point for the coming AI Agent economy, moving crypto narratives beyond finance into verifiable human identity.

marsbit1 ч. назад

From Identity Protocol to AI Gateway: How Ambitious Is World?

marsbit1 ч. назад

Without Tencent, What's Left for Suiyuan?

The article centers on the crucial question posed in the title: what is Seyond Technology really worth if its dominant customer, Tencent, were to stop purchasing its AI chips? As the last of China's "Four AI Chip Dragons" to secure approval for a public listing, Seyond's IPO filing reveals a profound and controversial dependency. In 2025, 74.9% to over 80% of its revenue came from Tencent. The piece argues that this extreme customer concentration is not merely a vulnerability but a strategic outcome of China's AI industry evolution. It contrasts Seyond's path with its peers (Moore Thread, Biren Technology, and MetaX), noting that while others raced to market with ambitious stories, Seyond focused first on securing and delivering for a major client. Its explosive revenue growth—with Q1 2026 up 1474.85% year-on-year—is driven by concentrated orders from Tencent, which itself faces massive, escalating AI compute demands for products like its Yuanbao and Hunyuan models. The relationship is framed as a deliberate, symbiotic cultivation of a supply chain. As both a major shareholder (20.26%) and primary client, Tencent is actively fostering Seyond to build a controllable, stable alternative to NVIDIA, similar to how global tech giants historically nurtured key suppliers. The high switching costs—involving software stacks and deployed systems—create a deep "ecological moat" for Seyond within Tencent's ecosystem. The analysis positions the AI chip landscape in three tiers: NVIDIA as the global leader, Huawei's Ascend as the state-backed player, and commercial firms like Seyond competing for market orders. Seyond is increasingly seen as "Tencent's compute foundation," with its product roadmap closely aligned with the tech giant's needs. The conclusion is that the industry's metric for success is shifting from fundraising and technical specs to real orders, delivery capability, and ecosystem binding. Seyond's value, therefore, lies not just in its chips but in holding a massive, multi-year procurement order from China's largest internet company—a tangible asset arguably more telling than any technical whitepaper in the current climate. The core insight is that for domestic chips, the ultimate challenge isn't just catching up technologically with NVIDIA, but earning the trust, scenarios, and recurring orders from a major anchor client.

marsbit1 ч. назад

Without Tencent, What's Left for Suiyuan?

marsbit1 ч. назад

Торговля

Спот
Фьючерсы
活动图片

Популярные категорииright-arrow

Популярные тегиright-arrow