President Donald Trump’s goodwill in the cryptocurrency industry has taken a hit after he and his wife launched meme coins — a move critics say looks like an unseemly cash grab that undermines an effort to legitimize digital assets.

The incidents around Donald Trump's curated meme-coin have left the entire crypto community flabbergasted, with many claiming that this is one big bluff that the new US President may have pulled on US crypto investors.

Cryptocurrencies launched by Donald and Melania Trump have angered some digital currency advocates and sparked fresh allegations of leveraging the presidency for profit.

A new meme coin launched by President-elect Donald Trump on Friday has a market capitalization of about $9 billion—after hitting a peak of over $15 billion early Sunday—marking Trump’s latest venture into cryptocurrency and merchandise sales in the lead-up to his inauguration.

"Seriously I was a big trump fan, but which president think's it's a good idea to make a meme coin when they are about to be in charge of a very large country? "

President Donald Trump has ventured into the cryptocurrency space with the launch of his official meme coin, TRUMP, which debuted on January 17, 2025. The coin has quickly gained attention across the crypto community.