California Governor Gavin Newsom Announces 'Trump Corruption Coin' to Counter President's Crypto Ventures

California Governor Gavin Newsom has announced plans for a "Trump Corruption Coin" to counter President Donald Trump's growing ties with the cryptocurrency industry. Proceeds from the project will go towards voter outreach and redistricting efforts. Newsom aims to expose what he calls "the absurdity" of Trump's ventures, describing the former president as "one of the great grifters of our time."

California Governor Gavin Newsom has unveiled plans for a provocative new memecoin, the "Trump Corruption Coin," aimed at drawing attention to President Donald Trump's growing ties with the cryptocurrency industry. Newsom announced the project during an appearance on the Pivot podcast, where he linked the coin to his ongoing "Campaign for Democracy" initiative. Proceeds from the project will go towards voter outreach and redistricting efforts [1].

The coin is more than a joke, according to Newsom. He wants it to highlight how Trump is using memecoins and crypto to boost his political image. "We’re just trying to turn up the heat and tune people into the absurdity," Newsom said [2]. The coin will be named "Trump Corruption Coin," directly referencing Trump's alleged scandals.

Newsom's announcement comes as Trump has leaned heavily into digital assets as part of his post-presidency image. In June, financial disclosures showed he earned $57.4 million from his stake in World Liberty Financial, holding 15.75 billion WLFI governance tokens [3]. His company, Trump Media and Technology Group, claims over $2 billion in Bitcoin and other digital assets, with reports estimating $2.4 billion earned from crypto since 2022. These ventures now represent nearly 44% of his political-era wealth, raising concerns over conflicts of interest [3].

Newsom's coin announcement is part of a broader campaign to parody Trump's political style. Over the past week, the governor has taken to his official X account to mimic Trump's all-caps tweets. He has also launched an online store selling satirical merchandise, including red caps modeled on Trump's MAGA hats, with slogans such as "NEWSOM WAS RIGHT ABOUT EVERYTHING!" [3].

Whether the "Trump Corruption Coin" gains traction remains to be seen, but the move underscores Newsom's strategy of using parody to challenge Trump's growing influence in crypto and politics.

References:
[1] https://www.nbclosangeles.com/news/local/newsom-to-up-his-offensive-on-trump-with-more-social-media-posts-and-meme-coin/3771835/
[2] https://www.tradingview.com/news/coinpedia:40d5d31ed094b:0-california-governor-to-launch-trump-corruption-coin-to-mock-trump-s-crypto/
[3] https://thecoinrise.com/newsom-teases-trump-corruption-coin-to-counter-presidents-crypto-ventures/