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.

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.

Meme coins have transitioned from playful internet jokes to legitimate financial instruments, capturing the imagination of investors worldwide. The latest entrants in this dynamic space—Donald Trump’s Official Trump Token ($TRUMP) and Bullionaire Coin ($BULL)—have set the stage for a battle of innovation,