P resident Donald Trump acknowledged launching his official meme coin, ‘TRUMP’, which debuted a few days ago. However, he admitted he didn’t know much about its performance.

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

President Donald Trump and First Lady Melania Trump have both have issued crypto meme coins that could earn them billions of dollars. The move is raising ethics concerns as the president promotes the cryptocurrency industry while experts say he's in a position to make determinations about it.