Former Coinbase Executive Criticizes Trump's Meme Coin as Predatory, Suggests Airdrop

Nick Tomaino, a former executive at the largest cryptocurrency exchange in the U.S., Coinbase, strongly criticized the launch of Donald Trump's meme coin on the 19th.

Tomaino stated on X that "Trump's launch of a meme coin, in which he holds an 80% stake just before taking office, seems somewhat predatory," adding that "many people are likely to be harmed." He suggested that "Trump should have used this coin to airdrop to the public instead of enriching himself or his organization."

The Trump meme coin, TRUMP, was launched on the 17th (local time). TRUMP recorded a market capitalization of $7 billion just one day after its launch. Tomaino commented, "I don't see the TRUMP launch as a 'significant event' as some people claim," and predicted that "it will soon quiet down."