Kraken backs Trump Accounts in Wyoming for newborn savers
Crypto exchange Kraken said it will fund “Trump Accounts” opened for newborns in Wyoming, aligning the effort with the state’s crypto regulatory framework where the company is headquartered.
The initiative was disclosed Monday by Wyoming Senator Cynthia Lummis, who said Kraken would contribute to all Trump Accounts established for children born in the state. She credited the company’s pledge as support for Wyoming’s next generation and broader economic outlook.
Kraken co-CEO Dave Ripley said the decision reflects Wyoming’s favorable environment for digital asset businesses and the firm’s desire to reinvest locally. He noted the state’s “thoughtful, responsible” approach to crypto policy, adding that starting early can broaden long-term financial access and affordability through innovation.
Source: Dave Ripley
In a company blog post, Kraken said Wyoming’s framework enabled it to become the first U.S. Special Purpose Depository Institution (SPDI) and praised the state’s role in advancing the Frontier Stable Token.
Trump Accounts are a new U.S. retirement vehicle that parents or legal guardians can open for minors under 18. Under a pilot program, the federal government will deposit $1,000 into accounts for children born from Jan. 1, 2025, through Dec. 31, 2028.
Traditional financial institutions including JPMorgan, Bank of America, and Wells Fargo have signaled varying levels of support for the program.
Kraken did not specify how much it will contribute per eligible newborn in Wyoming.
Crypto firms contribute amid state-focused initiatives
Separately, last week the blockchain-based prediction market Polymarket opened a free grocery store in New York City and said it would provide 3 million meals across the five boroughs.
Source: Polymarket
The store operated from Thursday through Sunday, followed by a Monday food donation event for redistribution across the city.
The effort followed a similar action by prediction market Kalshi, which offered a $50 grocery giveaway to more than 1,000 Manhattan residents on Feb. 3.
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