Crypto exchange Kraken will sponsor a federal savings account, known as a “Trump Account,” for every child born in Wyoming in 2026. The initiative, announced by U.S. Senator Cynthia Lummis, connects a private crypto firm to a major government-backed financial program aimed at building long-term wealth for families.
Cryptocurrency exchange Kraken has announced it will sponsor a “Trump Account” for every child born in Wyoming in 2026. The company stated this is meant to help families build long-term savings while showing loyalty to a crypto-friendly state.
These accounts are part of a new federal savings program linked to the Working Families Tax Cut. Under this plan, the U.S. Treasury provides $1,000 to eligible children born through 2028 to start their savings.
U.S. Senator for Wyoming Cynthia Lummis made the high-profile announcement during a speech at the Wyoming Legislature. She described it as an important partnership between the state government and private companies.
“I am so thrilled Kraken is giving back to Wyoming in such a meaningful way by sponsoring Trump accounts for every child born in Wyoming in 2026,” Lummis stated. “This investment in the next generation will ensure children in Wyoming have a financial head start.”
Kraken Co-CEO Arjun Sethi echoed the sentiment in an official statement. “This is not a gift. It is an investment in Wyoming’s future,” Sethi noted.
He added, “We chose Wyoming as our global headquarters because it leads the country in thoughtful crypto innovation and regulation.” The timing of the move coincides with volatility for some politically-linked crypto tokens.
According to data from CoinMarketCap, the TRUMP Coin was trading at $3.36 as of February 17, down over 36% in the past month. This highlights the unstable nature of many politically-linked crypto tokens.
The initiative blends federal support with private crypto funding. It reflects how crypto companies are increasingly aligning with government-backed financial systems.
