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 new president's $TRUMP coin won't surprise those who understand him but will likely vex some powerful people, SkyBridge's Anthony Scaramucci said.

The filing comes on the first business day after last Friday's launch of the Trump crypto coin, which quickly grew into a notional value in the billions of dollars.