The incoming first couple have launched a pair of meme coins in the leadup to President-elect Donald Trump’s inauguration.

The TRUMP meme coin launch was either the all-time crypto market top signal, or day one of new bout of irrational exuberance in a sector that's seen a few such rounds already. Why it matters: For the next three years,

"The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun," Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.