Bulls hope the new initiative is a sign the president remains committed to the sector, after his first day in office left them feeling underwhelmed.

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 new president's $TRUMP coin won't surprise those who understand him but will likely vex some powerful people, SkyBridge's Anthony Scaramucci said.