U.S. Sen. Cynthia Lummis attends a Bitcoin 2022 conference in Miami Beach, Florida.
Cryptocurrency exchange Kraken announced it will sponsor federal “Trump Accounts” for every child born in Wyoming in 2026, a move supporters say will give families a financial head start and reinforce the state’s leadership in digital finance. U.S. Sen. Cynthia Lummis applauded the announcement Monday, calling it “a meaningful way” for the company to give back to the state.
The Trump Accounts program — created under the federal tax and spending law — is a new type of tax-advantaged investment account for children. Eligible children born between Jan. 1, 2025, and Dec. 31, 2028 can receive a $1,000 seed contribution from the U.S. Treasury, and families and others can contribute up to $5,000 per year into the account. Funds are typically invested in broad U.S. equity index funds and grow tax-deferred until the child turns 18.
In its announcement, Kraken said it will make a financial contribution to each newborn’s Trump Account in Wyoming in 2026 to help families “start building long-term savings and capital formation from birth.” The company’s co-CEO, Arjun Sethi, described the initiative as an “investment in Wyoming’s future” and linked it to the state’s crypto-friendly regulatory environment, which attracted Kraken to move its global headquarters to Cheyenne.
Lummis, speaking to the Wyoming Legislature, emphasized the state’s role in welcoming digital asset businesses and said the sponsorship reflects both Kraken’s commitment to Wyoming and the potential economic benefits of attracting innovative companies.
Trump Accounts are intended to give children a long-term investment vehicle, similar in structure to retirement accounts but for education, housing, or business expenses once they reach adulthood. The accounts are opened by parents or guardians — typically by filing IRS Form 4547 — and a federal $1,000 contribution is made after enrollment. Accounts become fully accessible to the child at age 18, though families can contribute earlier to grow the balance.
Wyoming has positioned itself as a national leader in digital asset innovation, passing laws to attract blockchain and crypto companies. Kraken’s sponsorship aligns with the state’s broader efforts to expand its role in the emerging digital economy.
