The president’s promotion of a speculative digital coin left some crypto investors feeling blindsided, while others saw it as a gimmick that undermined the industry’s credibility.

President Donald Trump and First Lady Melania Trump both launched meme coins on Monday, but experts say they may not be reliable investments.

Just before his January 20 inauguration, President Donald Trump launched a cryptocurrency named after himself, which quickly accumulated a market cap of approximately $32 billion (Axios reported that it hit a high of more than $52 billion).