California Governor Gavin Newsom has teased plans to launch a “Trump Corruption Coin” as a direct response to Donald Trump’s controversial involvement in crypto, especially through memecoins.
Speaking on the “Pivot” podcast, Newsom, a Democrat, said the planned memecoin, named explicitly after Trump’s alleged scandals, is part of his broader “Campaign for Democracy” initiative, with proceeds from the coin going toward redistricting efforts and voter outreach.
“We’re about to put a meme coin out,” Newsom said during the interview. “And you know what, Donald Trump? We’ll see how well your coin does versus our coin.” When asked if it would be called a “Gavin Coin,” the governor replied: “No, it’s Trump Corruption Coin.”
“We’re just trying to turn up the heat and tune people into the absurdity,” he added. “This is one of the great grifters of our time,” Newsom said of Trump. “None of this is normal.”
Related: China could leverage crypto control over Trump family wealth
Trump rakes in millions from crypto
Trump, who has embraced crypto as part of his post-presidency branding, has touted massive profits from digital asset deals, including his personal memecoin and NFTs.
In June, he disclosed earning $57.4 million from his stake in World Liberty Financial. In his 2025 public financial disclosure, filed with the Office of Government Ethics, Trump reported holding 15.75 billion WLFI governance tokens. The filing attributes the income to token sales.
He even held a private dinner earlier this year with buyers of his Trump-themed token. Meanwhile, his company, Trump Media and Technology Group, claimed in July to hold over $2 billion in Bitcoin and other digital assets.
Earlier this month, The New Yorker claimed Trump has amassed an estimated $2.4 billion from crypto-related ventures since 2022. The report noted these ventures now account for nearly 44% of Trump’s political-era wealth, raising concerns over potential conflicts of interest.
Related: Trump has 11 on his Fed chair list, 3 may be crypto-friendly
Newsom mocks Trump’s style
The remark comes amid a broader campaign by Newsom to parody Trump’s branding. Over the past week, the governor has used his official press office account on X to mimic Trump’s signature all-caps tweets.
“EXCEPT WHAT IS WRITTEN AND BROADCAST IN THE FAKE NEWS, I NOW HAVE THE HIGHEST POLL NUMBERS I’VE EVER HAD, SOME IN THE 60’S AND EVEN 70’S. THANK YOU. MAKE AMERICA GAVIN AGAIN!!! — GCN,” he wrote in one post.
He also launched an online store selling MAGA-style merchandise, including red hats labeled “NEWSOM WAS RIGHT ABOUT EVERYTHING!”
Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
Source: https://cointelegraph.com/news/california-governor-trump-corruption-coin-maga-memecoins?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
