Ex-Coinbase Exec Proposes $100 $TRUMP Airdrop for Every U.S. Citizen

Former Coinbase CTO, Balaji Srinivasan, has proposed an ambitious idea for Donald Trump to airdrop $TRUMP tokens to every U.S. citizen via a mailing list. The proposal comes after the overwhelming success of the $TRUMP meme coin launch, which Srinivasan believes could reshape the relationship between U.S. citizens and the cryptocurrency market.

Srinivasan, in a recent post, dubbed Trump as the “first crypto president,” citing the fact that Trump’s net worth has shifted dramatically, now dominated by cryptocurrency holdings, which have grown from just 1% to over 90%. He highlights that, even with a potential 90% drop in the value of $TRUMP, the majority of Trump’s wealth would still be in cryptocurrency, making it a significant milestone for both Trump and the crypto industry.

However, Srinivasan raised concerns about an “alignment issue.” He suggested that a president should ideally have his citizens aligned with a shared cryptocurrency or economic model—like a “USA coin” that could provide dividends, similar to the Alaska Permanent Fund, which distributes revenue from state-owned resources to citizens. To address this, Srinivasan proposed that Trump could conduct an airdrop of $TRUMP tokens to U.S. citizens to align his wealth with that of the public, making the token more accessible and beneficial to a broader audience.

Srinivasan suggested sending $100 worth of “locked-up” $TRUMP tokens to around 77 million Trump supporters, which would cost Trump approximately $7.7 billion in $TRUMP tokens. He even proposed that Trump could afford to send $500 worth per person, costing him up to $20 billion, without significantly impacting his total holdings. This distribution, he believes, would engage a larger portion of the American public and boost the token’s popularity.

At the time of writing, $TRUMP has seen a nearly 10% decline in value over the past 24 hours, trading at $52.47, with a market cap of $10.3 billion, ranking it 21st on the crypto leaderboard. Despite this dip, Srinivasan believes the airdrop could encourage more citizens to get involved with the cryptocurrency space, and it might even sway some political opponents. He suggested that by offering such an airdrop, Trump could potentially entice Democrats to support him, as they would be incentivized to sign up for the token in hopes of receiving free $TRUMP.

A survey from NFTEvening and Storible reveals that around one in seven Americans purchased $TRUMP on launch day, with 42% of buyers being first-time crypto investors. However, the survey also shows that more than half of Americans remain skeptical, viewing the $TRUMP meme coin as a potential scam or a detrimental influence on the crypto market.

In summary, Srinivasan’s proposal to airdrop $TRUMP tokens to U.S. citizens is an effort to bridge the gap between the president’s cryptocurrency holdings and the general public, while simultaneously using the opportunity to involve a larger portion of the population in the crypto ecosystem. The concept reflects the growing intersection between politics and cryptocurrency but also underscores the skepticism and uncertainty that many Americans have about meme coins and their long-term viability.