#TRUMPTokenWatch US President Donald Trump has been criticised for launching a meme-coin, saying he "doesn't know much" about cryptocurrencies.

The digital coin called TRUMP appeared on his social media accounts ahead of his inauguration on Monday and soon became one of the most valuable crypto coins. Within a day the value of one coin rose to $75, but it has since fallen to $39.

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 support my opinion that he is making fun of the industry. It's a stunt," says Danny Scott, CEO of CoinCorner.