California Governor Gavin Newsom has announced plans to create a satirical meme coin called Trump Corruption Coin, which will mock the cryptocurrency initiatives of former U.S. President Donald Trump. The launch of this token is intended as a response to the high-profile scandals associated with Trump’s activities in the digital asset space.
This is reported by Business • Media
Details of Newsom’s Initiative
According to Gavin Newsom, the proceeds from the sales of the new meme coin will be directed towards funding the “Campaign for Democracy” initiative, which aims to redistribute electoral districts and engage with voters. The governor emphasized that Trump Corruption Coin is not associated with his name but aims to highlight the controversy and corruption surrounding projects linked to Trump.
“We are going to launch a meme coin. And you know what, Donald Trump? Let’s see how well your coin performs compared to ours,” the governor said.
During a discussion on the Pivot podcast, Newsom stated that the new meme coin will serve as a satirical response to Trump’s activities in the cryptocurrency sector. He has also repeatedly pointed out that Trump and his family are profiting significantly from their involvement in crypto projects and NFTs, which creates a potential conflict of interest.
Cryptocurrencies and Trump’s Profits
Analysts note that Donald Trump actively uses the theme of digital assets to bolster his own image. According to official data, Trump has earned over $57 million from his stake in World Liberty Financial, owns 15.75 billion WLFI governance tokens, and his company Trump Media and Technology Group has declared bitcoins and other digital assets worth over $2 billion.
According to information from The New Yorker, since 2022, Trump has earned approximately $2.4 billion from crypto projects. Newsom emphasizes that his campaign is satirical in nature and aims to highlight the absurdity of Trump’s actions in the crypto sphere.
“We are just trying to heat things up and show the absurdity. He is one of the biggest con artists of our time,” Newsom explained.
The campaign is accompanied by active satire: last week, Newsom imitated Trump’s tweeting style on the social media platform X and presented MAGA-style merchandise with the slogan “Newsom was right about everything.”
It is worth noting that Senator Cynthia Lummis has stated that the bill regarding the structure of the cryptocurrency market is expected to be handed over to Trump by the end of November 2025.