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Crypto exchange Kraken has vowed to support President Donald Trump\u2019s \u201cTrump Accounts\u201d initiative in Wyoming.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to the official announcement<\/a> from Kraken, the crypto exchange will sponsor Trump Accounts for every child born in Wyoming in 2026 by making a financial contribution to each eligible account as part of the federal program.<\/p>\n For those unaware, Trump Accounts are a new type of tax-advantaged retirement account that allows parents or legal guardians to open and contribute funds for children under 18.\u00a0<\/p>\n Under a federal pilot program, every U.S. citizen newborn born between Jan. 1, 2025, and Dec. 31, 2028, is entitled to a one-time $1,000 seed contribution from the U.S. Treasury. These funds are invested in eligible market index funds and grow on a tax-deferred basis until the beneficiary reaches adulthood.<\/p>\n \u201cBy seeding accounts for every newborn in 2026, we are backing families from day one and reinforcing Wyoming\u2019s role as America\u2019s home for responsible crypto leadership,\u201d Kraken Co-CEO Arjun Sethi said in a statement.\u00a0<\/p>\n <\/p>\n Pro-crypto Wyoming Senator Cynthia Lummis<\/a> praised Kraken\u2019s decision to sponsor Trump Accounts in the state, adding that the investment \u201cwill ensure children in Wyoming have a financial head start.\u201d<\/p>\n \u201cI\u2019m grateful to Kraken for their commitment to Wyoming\u2019s next generation and to the Cowboy State\u2019s economic future,\u201d she added.<\/p>\n Kraken has not disclosed how much it will contribute to this initiative, but said the decision was driven by Wyoming\u2019s favorable regulatory climate<\/a>, where it was able to become the nation\u2019s first Special Purpose Depository Institution under the state\u2019s crypto-specific banking framework.<\/p>\n \u201cWe picked Wyoming as our global HQ because it leads with thoughtful, responsible crypto policy,\u201d co-CEO Dave Ripley wrote in an X post.<\/p>\n Kraken joins Coinbase<\/a> and a slew of other financial giants like JPMorgan Chase<\/a> that have publicly endorsed and supported the Trump Accounts initiative.<\/p>\n In a similar gesture toward community support, crypto-based prediction platform Polymarket opened a temporary free grocery store<\/a> in New York City, offering food assistance and pledging millions of meals for local residents.<\/p>\n <\/p><\/div>\n\n\n