Former Coinbase CTO Balaji Srinivasan has urged incoming United States president Donald Trump to airdrop some TRUMP tokens to US residents. In his post, Srinivasan noted that the move would encourage more Americans to support Trump.
President-elect Donald Trump is the first United States president to support crypto and the blockchain ecosystem that they are built on. He recently launched his meme coin TRUMP, which has grown sporadically, generating several opinions across the crypto community.
Former Coinbase CTO proposes airdrops for Americans
According to the former Coinbase CTO, the move to launch the meme coin has been seen as a conflict of interest. However, he listed some other political figures who have also enjoyed the same benefits, listing the various deniable forms of payola they have enjoyed.
Srinivasan, listing steps that Trump may use to win back the American populace, noted that he could airdrop some of the tokens to legal residents in the United States. He mentioned that the incoming president may send $100 worth of the meme coin to about 77 million people who voted, ensuring he emerged as the president for a second term.
According to Srinivasan, the airdrop will cost Trump about $7.7 billion at the time of the valuation. He went on to note that a $500 airdrop to American citizens would not have an effect on him, noting that he would still have about $20 billion left. He highlighted that the airdrop will form a social contract between Trump and his core supporters.
TRUMP ranks third among meme coins
According to Srinivasan, Donald Trump has already cemented his legacy as the first crypto president, highlighting how impressed he was about Trump’s embrace of the crypto industry. He also discussed Trump’s involvement in the crypto industry, noting that his portfolio has now moved from 1% to 90%.
He also mentioned that Trump has started a new crypto wave, where influential figures and politicians will begin to design and develop their meme coins. He added that it is a positive wave, as buyers will know what they are getting into before they buy the tokens. He noted that Trump’s online presence will also help push the token.
The meme coin has seen a resurgence, after dipping slightly. It has captured the third spot according to market cap, flipping PEPE to take the position. It is currently trading around $58, down by 10% in the last 24 hours. However, the token is still up by 783% over the last seven days. It has also grown to clinch the 8th spot in overall tokens according to market cap on CoinMarketCap.