When the most famous man in the world cashes in on a crypto trend, that's a strong top signal. Why it matters: Revenue has been falling for the leading meme-coin platform since the Trump Organization launched the Official Trump (TRUMP) and Melania Meme (MELANIA) coins Jan.

With the dismissal of crypto investigations and enforcement actions and a staff memo on meme coins, the agency is taking a sharply different approach than the previous administration.

The new bill follows presidential forays into memecoins from Donald Trump, the president of the Central African Republic, and Argentina.