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- Gavin Newsom has announced the launch of “Trump Corruption Coin” while raising funds for his own political movement.
- This meme coin is a result of Trump’s crypto ventures, which have drawn intense criticism from political opponents.
Donald Trump secured the 2024 election, becoming the 47th president of the United States after defeating Kamala Harris with a majority vote. But even before stepping into office, Trump launched his own meme coin, TRUMP. Soon after, his wife, Melania Trump, followed suit with her own token, fittingly called MELANIA. The moves sparked immediate debate about his leadership and priorities.
Memecoins, inspired by internet jokes and pop culture, have exploded in popularity across the crypto market. While they often lack the utility of established cryptocurrencies like Bitcoin (BTC) or Vechain (VET), they’ve become a lucrative trend, attracting massive speculation and fueling both excitement and controversy.
Now, California Governor Gavin Newsom has taken his satirical approach to the next level, announcing plans to launch a politically-tinged memecoin dubbed the “Trump Corruption Coin” and meet Trump in the meme coin game. He revealed this during a segment on the Pivot podcast hosted by Kara Swisher and Scott Galloway.
Newsom described the coin as a satirical jab at former President Trump’s own crypto ventures, including the TRUMP meme token. “We’re about to put a meme coin out,” he quipped.
Let’s see how well your coin does versus ours.
Despite the humor, Newsom emphasized the initiative would fund his Campaign for Democracy, supporting causes like redistricting and voter outreach. “This is one of the great grifters of our time, using parody coins and satire as a way to expose that,” he said.
Newsom’s coin follows his larger trolling playbook, mocking Trump’s all-caps rants and MAGA-style branding with parody merchandise and satirical social posts. He joked that his coin might even begin as “Smelt,” referencing jokes about Trump’s fragrance.
While many see the coin as humor-first, it doubles as a political tool, highlighting real concerns over the intersection of politics and crypto, especially with Trump’s significant digital asset ventures like WLFI and his private TRUMP token.
Trump Crypto Ventures
Since launching World Liberty Financial last year, they’ve already pocketed around $500 million. At the center of this is WLFI, the project’s native token. On September 1, WLFI began trading on Binance, the world’s largest crypto exchange, against the two biggest stablecoins, USDT and USDC.
On launch day, early investors were allowed to sell up to 20% of their holdings. WLFI debuted and reached $0.46 before dropping to its current price of $0.22, still giving the token a market cap of nearly $5.62 billion. But WLFI is only one piece of the Trump family’s growing crypto ecosystem.
Previously, Crypto News Flash reported that through Trump Media & Technology Group (TMTG), the parent company of Truth Social, they’ve built up a $2 billion Bitcoin stash. And they’re not stopping there. In partnership with Crypto.com, TMTG is assembling a massive crypto treasury valued at up to $6.4 billion. That pot includes $1 billion in CRO tokens, $200 million in cash, $220 million in warrants, and even a $5 billion line of credit.
The Trump siblings are getting into the Bitcoin mining game. They’ve teamed up with Gryphon Digital Mining in a merger that’s expected to take the company public on the Nasdaq as early as next month. The venture already holds 215 BTC in its treasury and has raised $220 million in funding to expand operations.
