Trump’s embrace of meme coin sours mood in crypto industry
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 industry, which felt unfairly targeted by the Biden administration and spent heavily to help Trump win, is eager for the new president’s help to make crypto a bigger part of mainstream financial systems. Trump has promised a lighter regulatory touch and picked pro-crypto officials for key government positions.
The price of bitcoin and other digital assets has soared since Trump won. A lavish “Crypto Ball” Friday ahead of Trump’s inauguration sold tickets for thousands of dollars and featured a…
