Ex-Coinbase CTO: $100 $TRUMP Airdrop for Every American?

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Balaji Srinivasan, who previously held the position of CTO at Coinbase, proposes an idea where Donald Trump distributes digital tokens named $TRUMP to all U.S. citizens through their mailing lists. This distribution would occur after it’s estimated that one-third of the American public has purchased his official meme coin.

In a more recent update, Srinivasan referred to Donald Trump as the “first cryptocurrency president” following the highly successful debut of his meme coin, $TRUMP.

The individual mentioned that the President-elect’s wealth predominantly consists of cryptocurrencies, with its proportion increasing significantly from just 1% to over 90%.

According to Srinivasan’s post, most of the next U.S. President’s staggering net worth (equaling approximately $59 billion) is currently invested in cryptocurrencies. Even if there was a dramatic 90% decrease in value, the majority of this wealth would still be held in digital currencies.

As an analyst, I view this triumph for the cryptocurrency sector as a significant milestone that could potentially signal the twilight of conventional fiat currencies. However, I’ve identified a potential misalignment with Trump’s recently launched token, specifically due to certain issues surrounding its alignment.

As an analyst, I’d advocate for a harmonious relationship between the President and the citizens, where we all share in the prosperity of our nation, much like owning a piece of the USA itself through a hypothetical national dividend-yielding asset, similar to Alaska’s Permanent Fund. In this scenario, each citizen would benefit from the profits generated by the country.

To address this matter, he proposed an idea where Trump might distribute some TRUMP coins to every American citizen via air drop. He thinks it’s feasible to accomplish this task by setting up a registration system where people would need to sign up in advance to be eligible for receiving the airdrop tokens.

Speaking to his backers, Srinivasan noted that Donald Trump might distribute $100-valued “confined” $TRUMP coins to approximately 77 million Trump supporters via an airdrop, which could potentially set him back by $7.7 billion in $TRUMP tokens. He further mentioned that Trump could go as far as giving out $500 worth of TRUMP tokens per individual, leaving him with roughly $20 billion remaining.

Currently, as I write this, TRUMP has experienced a drop of almost 10% over the past day. As reported by crypto.news, the coin inspired by Donald Trump is now valued at approximately $52.47. The market capitalization for this token stands at a staggering $10.3 billion, placing it at number 21 on the list of top cryptocurrencies.

Is $TRUMP enough to tempt the American public?

Apart from acknowledging his faithful followers, Srinivasan mentioned that this extensive airdrop might serve as an enticement for Democrats to consider aligning with Trump during his term of office.

Srinivasan mentioned that if he provided a three-day heads up, many Democrats would join his private email subscription list eagerly, hoping to receive the promised airdrop.

Based on findings from a recent survey by NFTEvening and Storible, it was discovered that approximately one out of every seven American citizens acquired the $TRUMP meme coin during its initial release. Interestingly, about 42% of those who bought either $TRUMP or MELANIA also confessed to being novice crypto investors.

Nonetheless, it appears that over half of U.S. residents remain wary about Trump coins, viewing them either as a fraudulent scheme or potentially damaging to the cryptocurrency market.

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2025-01-20 13:16