Kraken Backs 'Trump Accounts' for Wyoming Newborns
Kraken will fund a Trump Account for every child born in Wyoming in 2026, acknowledging the state's pro-crypto policies. The Trump Accounts, part of the Working Families Tax Cut, grant $1,000 in U.S. Treasury funds per eligible child until 2028, with potential for additional contributions accessible at age 18, although Kraken's specific matching amount or asset allocation remains unclear. The initiative was announced by Senator Cynthia Lummis and confirmed by Kraken, whose leadership emphasizes long-term support for Wyoming’s pro-crypto regulatory environment. Experts view Kraken’s move as a strategic loyalty signal to the state and a public alignment with the Trump administration’s policy agenda, rather than pure philanthropy, especially given the recent SEC dismissal of regulatory actions against the firm under new crypto-friendly leadership. Kraken frames the contribution as an investment in Wyoming’s future, citing the state’s early adoption of digital-asset banking charters and clarity for crypto firms. Ethical and political considerations remain, as the sponsorship could potentially benefit Kraken amid political shifts.
