But the launch of the so-called meme-coin - a cryptocurrency with no utility other than for fun or speculation - has been widely criticised by industry insiders. "Trump's comments about not knowing much about the coin back up my opinion that he is making a mockery of the industry. It's a stunt," says Danny Scott, CEO of CoinCorner.

Just days ahead of his return to the White House, President Trump and his wife, Melania, launched a pair of meme coins that have skyrocketed in value and earned them billions of dollars, at least on paper.

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.