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 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.

Official Trump and Melania meme coins embarked on a massive rally this weekend before plunging. Here's what to know about the President's crypto.