Kraken Responds to Trump's Call, Pledges Sponsorship for Wyoming Newborn Account, Citing Crypto-Friendly Regulatory Environment
BlockBeats News, February 17th – Cryptocurrency exchange Kraken announced that it will sponsor the "Trump Accounts" plan launched by U.S. President Donald Trump, providing funding support for eligible newborn accounts in Wyoming.
The news was revealed by Wyoming Senator Cynthia Lummis on Monday. Under the arrangement, Kraken will provide funding support for all newborn "Trump Accounts" created in Wyoming. Kraken's Co-CEO, Dave Ripley, stated that the company chose to support the state's project because Wyoming has taken a "cautious and responsible" policy stance on crypto regulation, with the company also making it the location of its global headquarters.
"Trump Accounts" are savings account plans for minors under 18 in the United States. Under the pilot arrangement, the federal government will make a one-time $1,000 contribution for children born between January 1, 2025, and December 31, 2028. Previously, traditional financial institutions such as JPMorgan Chase, Bank of America, and Wells Fargo have also expressed varying degrees of support.
Kraken has not yet disclosed the specific amount of funding it will provide to each eligible newborn.
