Former Coinbase executive Balaji Srinivasan thinks Trump should consider airdropping 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 incentivized to legalize cryptocurrency in the most aggressive way possible.”
But he also argues there’s an “alignment problem” with the new TRUMP coin.
“As context: the CEO of a company is typically one of the largest shareholders, but he is aligned with all his employees because they hold the same shares. All holders rise and fall as one, ideally.
By analogy, you would ideally want the President to be aligned with his citizens, such that they all held (say) USA coin, which gave some dividend from the profits of the USA. Kind of like the Alaska Permanent Fund.
So, one way of solving the alignment problem would be for Trump to airdrop some TRUMP to every US citizen. However, it might be easier for him to just send an email in his personal capacity to every Trump supporter offering them some free TRUMP.
Specifically: he could give 72 hours notice and all kinds of Democrats would also sign up for his personal email 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 US citizens.
TRUMP is trading at $34.98 at time of writing. The 30th-ranked crypto asset by market cap is down more than 30% in the past 24 hours but remains up by more than 434% from the price it launched at on Friday.
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