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Kraken to open Trump Accounts for all Wyoming newborns
Crypto exchange Kraken has announced it will fund the opening of so-called Trump Accounts for every child born in Wyoming in 2026. The initiative is being described not only as a social measure but also as a political signal of loyalty to a state that was among the first to establish favorable regulations for the crypto industry.
U.S. Senator Cynthia Lummis first revealed the decision during an address to the Wyoming Legislature. Kraken later officially confirmed its participation in the program.
What are Trump Accounts
The program was created under the Working Families Tax Cut. It provides a $1000 contribution from the U.S. Treasury for each eligible child through 2028. Families and third parties can make additional contributions, and the funds become accessible once the child turns 18.It remains unclear whether Kraken will match the $1000 contribution for each account and whether the funds will be invested in cash or cryptocurrency
More than philanthropy
Some experts believe the initiative carries political implications. By supporting a program branded with the sitting president’s name, the exchange appears publicly aligned with the Trump administration’s domestic agenda.Joshua Chu, lawyer and co-chair of the Hong Kong Web3 Association, described Kraken’s move as a “loyalty signal” that strengthens the company’s position in Wyoming ahead of the midterm elections. He also noted the symbolism, given that in 2025 the SEC dropped its case against Kraken without fines or an admission of wrongdoing.
In 2023, the regulator had accused the exchange of operating as an unregistered securities exchange, broker, and clearing agency. The lawsuit was withdrawn in 2025 following leadership changes at the SEC and a softer regulatory approach toward crypto firms.
A long-term bet on Wyoming
Kraken co-CEO Arjun Seth said the decision is not a marketing campaign but a “systems investment.” According to him, the company aims to support jurisdictions that create clear and predictable rules for crypto businesses.Wyoming introduced a special-purpose banking charter for digital asset companies back in 2019, becoming one of the most attractive U.S. states for the crypto industry.
Kraken’s initiative highlights how crypto companies are increasingly forming long-term alliances with specific states and political forces to secure a favorable regulatory environment.
Earlier, Scott Bessent said that President Trump’s introduction of “Trump Accounts” could serve as a pathway to bringing a new generation of investors into the economy.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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