- Balaji Srinivasan highlighted the scenarios surrounding the Trump memecoin.
- TRUMP memecoin comprises over 90% of Donald Trump’s net worth.
- TRUMP’s success could trigger the creation of more similar projects.
Former Coinbase CTO Balaji Srinivasan has highlighted the potential scenarios surrounding the newly launched Trump memecoin. Srinivasan’s Trump analysis cited situations that could establish the presidentially backed cryptocurrency, making it a mainstay in the upcoming crypto dispensation.
According to Srinivasan, politicians, influencers, and celebrities worldwide are paying attention to developments and waiting to see how the ongoing situation evolves. The former Coinbase CTO thinks a success story for Trump coin will trigger the creation of more similar projects by prominent figures.
Related: Crypto Traders Show Heightened Interest in Trump-Themed Memecoins
Crypto Dominance in Trump’s Financial Portfolio
Srinivasan also commented on the shift in President Trump’s financial portfolio. Before $TRUMP’s launch, only about 1% of Trump’s net worth was in cryptocurrency. Post-launch, however, digital assets now account for over 90% of his wealth, underscoring the memecoin’s rapid rise.
Early Monday saw $TRUMP rally by 73%, reaching $46.06 just hours before Trump’s return to the White House. The coin’s market capitalization surged to $9.2 billion, with trading volume hitting $42.2 billion in 24 hours.
Related: Trump Memecoins Thrive Ahead of Election, Defying Market Trends
With such a significant interest in the crypto industry, Srinivasan foresees President Trump with an obligation to legalize cryptocurrency in the U.S. The renowned crypto personality highlighted instances that would lead to the imminent success of the TUMP memecoin, despite the historical reports of failure of similar celebrity projects.
Srinivasan considers President Trump’s over 100 million followers, daily non-stop coverage, presidential immunity, and unprecedented control over the government the pillars that will support the TRUMP memecoin’s growth and establishment. Despite the possibility of a potential conflict of interest attack, Srinivasan thinks President Trump will refute such accusations with the claim that disclosure solves the conflict of interest problem.
The former Coinbase CTO noted that President Trump could give $100 of locked-up TRUMP coins to 77 million followers and remain over $20 billion richer.
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