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.

President Trump’s meme coin went on a bumpy ride over — before steadying Tuesday after the Securities and Exchange Commission announced it would launch a “crypto task force.” The president’s $TRUMP meme coin sank to around $30 Monday night after the president failed to discuss digital assets on his first day in office,

As Trump becomes the 47th president, his entry into the cryptocurrency space through meme tokens marks an unprecedented intersection of power and digital assets.