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.

What are TRUMP and MELANIA meme coins? What are the risks and why a certain section of the community has criticized these meme coins? Let’s find out.

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