Former Coinbase CEO Balaji Srinivasan thinks Trump should consider releasing his newly launched official memecoin to his supporters.
Srinivasan tells his 1.1 million followers on the social media platform X that Trump “is now strongly motivated to legalize cryptocurrency in the most aggressive way possible.”
But he also claims there is an “adjustment problem” with the new TRUMP coin.
“For context: The CEO of a company is usually one of the largest shareholders, but he’s in line with all his employees because they have the same shares. All holders rise and fall as one, ideally.
By analogy, you would ideally like the president to be in line with his citizens, so that they all held (say) US coins, giving some dividend from US profits. Much like the Alaska Permanent Fund.
So one way to solve the alignment problem would be for Trump to drop a little TRUMP on every American citizen. However, it might be easier for him to just send an email in his personal capacity to all the Trump supporters and offer them some free TRUMP.
Specifically: he could give 72 hours notice and all kinds of Democrats would also sign up for his personal mailing list, just to get the airdrop.”
The former Coinbase executive says airdropping TRUMP would represent “a new kind of social contract” between a president and American citizens.
TRUMP is trading at $34.98 at the time of writing. The 30th-ranked crypto asset by market capitalization is down more than 30% in the past 24 hours but is still up more than 434% from the price it launched at last Friday.
