The crypto industry threw its weight and money behind Donald Trump, in hopes of legitimizing the industry. Before his Inauguration Day was over, Donald Trump was already enriching himself via a memecoin, one of the scammier, least legitimate-looking uses of crypto.

Guest: David Yaffe-Bellany, reporter covering cryptocurrency for the New York Times.

Want more What Next TBD? Subscribe to Slate Plus to access ad-free listening to the whole What Next family and all your favorite Slate podcasts. Subscribe today on Apple Podcasts by clicking “Try Free” at the top of our show page. Sign up now at slate.com/whatnextplus to get access wherever you listen.

Learn more about your ad choices. Visit megaphone.fm/adchoices