Kraken joins Trump savings effort following $302M SHIB hot wallet move

Cryptocurrency exchange Kraken said it would sponsor Trump Accounts for every child born in Wyoming in 2026. This comes as blockchain monitoring firm Arkham flagged recent activity from the exchange platform.

According to the blockchain monitoring firm, Kraken moved roughly 46.02 billion Shiba Inu tokens (approximately $301,900) from cold storage to an active hot wallet on the Ethereum network.

Kraken pledges early investment to build financial futures in Wyoming

The major United States-based cryptocurrency exchange stated that the move to sponsor Trump Accounts reflects its belief that America should continue to improve its financial system. Kraken wants more people to have access to financial services and an easier way to grow their money over time.

Kraken Co-CEO Arjun Sethi stated, “This is not a gift. It is an investment in Wyoming’s future. We chose Wyoming as our global headquarters because it leads the country in thoughtful crypto innovation and regulation.”

The company is willing to establish a savings scheme for newborn babies at birth. These accounts are meant to be organized as long-term savings accounts in which cash accrues over time. Kraken executives said the program reflects the belief that financial systems require modernization to enable more people to access tools to build wealth. 

By adding money to children’s accounts early in life, Kraken hopes families can grow their savings over time and build financial security for the future. Kraken co-CEO Arjun Sethi said the program is more than a simple donation.

Cynthia Lummis, a senator from Wyoming, said she was happy with Kraken’s decision and thanked the company for supporting the state.

Wyoming cements role as crypto-friendly financial hub

Wyoming has proven to be a leader in crypto adoption, ranking among its peers. Wyoming has strengthened its position as one of the most crypto-friendly states in the United States. 

The state has created laws and policies to attract blockchain companies and support growth in digital finance. Kraken has furthered this mission by partnering with the University of Wyoming to share lessons and resources for the blockchain program. This is intended to contribute to a skilled workforce as students pursue careers in digital finance.

Among these was the issuance of a Special Purpose Depository Institution (SPDI) charter to Kraken Financial, making it the first crypto company in this country to receive such a banking license.

Kraken has further solidified its long-term commitment to Wyoming by sponsoring savings accounts for newborns. This is part of a move to integrate crypto firms into larger financial and community programs as they become part of the broader ecosystem, he says. 

Large SHIB transfer shows Kraken’s rising role in the crypto market

Kraken’s also attracting a fair bit of interest from crypto fans, as recent massive transfers of SHIB tokens to one of the platform’s hot wallets. The operation involved around 46 billion Shiba Inu tokens and mirrors the exchange’s liquidity maintenance strategy in case of potential trading activity.

The move coincided with a modest price uptick for Shiba Inu (SHIB), which has been trading in a recovery pattern following recent market pressures. SHIB is forming a bullish flag pattern. A bullish flag occurs when the price pauses briefly after a rally before resuming its upward trend. The breakout level sits near $0.0000069. If Shiba Inu breaks above this level, it could rise toward $0.0000099, representing a 43% gain.

Hot wallets, which are internet-based, allow exchanges to expedite trade and withdrawal operations. Those transactions are massive, as wallets are frequently used to either increase trading volumes or prepare for larger transactions.

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