Kraken to sponsor Wyoming 'Trump Accounts,' praises state's crypto policy

Cryptocurrency exchange Kraken will sponsor the "Trump Accounts" program in the state of Wyoming, according to Cointelegraph. Wyoming Senator Cynthia Lummis announced that Kraken will help fund the accounts for newborns in the state. The Trump Accounts are savings accounts for children under 18, with a pilot program providing an initial $1,000 federal deposit for children born between Jan. 1, 2025, and Dec. 31, 2028. Kraken Co-CEO Dave Ripley said the company wants to reinvest in its home community, describing Wyoming as a leader in responsible crypto policy. He praised the state's regulatory environment, which allowed Kraken to become the first entity in the U.S. to receive Special Purpose Depository Institution (SPDI) status.