The capital is embracing the crypto crowd with President Trump’s return to office, marking a reversal of the Biden administration’s legal pursuit of companies such as FTX.

The new Solana-based meme coin launched by President Donald Trump earlier this month has already dipped in terms of trading volume and racked up more than $11 million in fees for traders. In the last 24 hours,

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 launch of $TRUMP and $MELANIA crypto coins has disappointed some in the crypto industry, who fear they amplify the sector’s sillier and scammier side.

President Donald Trump promised crypto investors he’d usher in an era of legitimacy for an industry that’s long been relegated to the financial wilderness — dismissed by some mainstream investors as an highly speculative bet at best or an elaborate Ponzi scheme at worst.

Crypto was supposed to “democratize” finance, but small buyers remain at a disadvantage when experienced traders cash in