Critics in the crypto industry are denouncing the Trump family's memecoin launch before the inauguration, stating that it damages the industry. The launch has resulted in the devaluation of the Trump's memecoin by 40% and the First Lady's memecoin by over a third. Gabor Gurbacs, director of digital-asset strategy at Vaneck, suggests that Trump should replace his crypto advisors. Anthony Scaramucci, founder of Skybridge Capital LLC, believes that Trump's emphasis on memecoins demonstrates his focus. Caroline Mauron, co-founder of Orbit Markets, states that the memecoin controversy was unexpected.