California Governor Gavin Newsom has introduced plans for a meme coin called ‘Trump Corruption Coin,’ generating interest around President Trump’s connections to the crypto industry.
Announcement of the Meme Coin
Governor Gavin Newsom announced the meme coin during an appearance on the Pivot podcast, linking it to his ‘Campaign for Democracy’ initiative. He stated that proceeds from the coin would be directed towards voter outreach and redistricting efforts.
‘We’re about to put a meme coin out,’ Newsom said. ‘And you know what, Donald Trump? We’ll see how well your coin does versus our coin.’ He swiftly rejected the idea of naming it ‘Gavin Coin,’ confirming it would be called ‘Trump Corruption Coin.’
Trump’s Crypto Assets
Since leaving office, Trump has heavily engaged with digital assets, including NFTs and memecoins. Financial disclosures in June indicated he earned $57.4 million from his crypto ventures, holding over 15.7 billion WLFI tokens. Earlier this year, he hosted a private dinner with buyers of his Trump-themed token, emphasizing how central crypto has become to his brand. Additionally, his company, Trump Media and Technology Group, reported holding more than $2 billion in Bitcoin and other cryptocurrencies.
Parodying Trump’s Brand
The announcement of the coin is part of a broader campaign by Newsom to parody Trump’s political style. Over the past week, he has taken to his official X account to mimic Trump’s all-caps tweets and has launched an online store selling satirical merchandise, including red caps modeled after Trump’s MAGA hats with slogans such as ‘NEWSOM WAS RIGHT ABOUT EVERYTHING!’
The creation of the ‘Trump Corruption Coin’ highlights Newsom’s strategy to challenge Trump’s growing influence in both the crypto space and politics. It demonstrates how political figures use meme coins to convey their positions.
