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 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.

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.

Billions have already been wiped from the value of the latest cryptocurrencies, with experts warning of more volatility

Crypto analysts report 6,800 fraudulent tokens and 91 fake dApps since $TRUMP made its $72 billion debut, as reported by Crypto News. The coin, which President Trump admitted himself that he “didn’t know much about,” was launched to great success, achieving a market cap of $72 billion 48 hours before its launch.

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