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.

Digital currencies values surges amid expectation that new administration will support ‘crypto-friendly’ environment

The price swings highlighted the volatility of meme coin trading, which several crypto executives have warned could push people away from cryptocurrencies.