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.

Industry players are concerned that the success of the president’s meme coin will undermine the credibility they have worked hard to cultivate.

President Trump's return the White House is expected to usher in a golden, if chaotic, age of crypto in the U.S., according to Bernstein analysts.