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

President Donald Trump promised crypto investors he’d usher in an era of legitimacy for an industry that’s long been relegated to the financial wilderness — dismissed by some mainstream investors as an highly speculative bet at best or an elaborate Ponzi scheme at worst.

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.