Bulls hope the new initiative is a sign the president remains committed to the sector, after his first day in office left them feeling underwhelmed.

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.

Bitcoin, other cryptocurrencies and even the newly minted token bearing Donald Trump's name cooled on Tuesday, after the U.S. president's first set of policies following his inauguration made no reference to the asset class.