California Governor Gavin Newsom has announced the release of the satirical meme coin Trump Corruption Coin, aimed at mocking the crypto initiatives of U.S. President Donald Trump. According to Newsom, the funds raised from the sale of tokens will be directed towards the “Campaign for Democracy” initiative, specifically for redistricting and voter engagement efforts.
This is reported by Finway
Trump Corruption Coin: Political Satire in the World of Cryptocurrency
During the Pivot podcast, Newsom explained that the new meme coin will be a response to Trump’s active involvement in the digital asset market. The governor emphasized that Trump Corruption Coin is not just a joke, but an attempt to expose the controversial activities of the sitting president in the crypto sphere. When asked if the meme coin would be associated with his name, the politician replied negatively, stressing that the project is dedicated solely to the theme of Trump’s corruption.
“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.
Trump’s Financial Achievements in Web3 and Politicians’ Reactions
Experts note that Donald Trump actively uses cryptocurrencies to enhance his political image. The U.S. president reported significant income from his stake in World Liberty Financial, which reached $57.4 million in June 2025. He also declared ownership of 15.75 billion WLFI management tokens. Additionally, Trump Media and Technology Group reported holding bitcoins and other digital assets worth over $2 billion.
According to calculations by The New Yorker, since 2022, Trump has earned about $2.4 billion from cryptocurrency projects. Newsom himself pointed out that Trump’s substantial profits from NFTs and meme coins raise questions about conflicts of interest.
“We are just trying to heat up the situation and show the absurdity. He is one of the biggest fraudsters of our time,” Newsom explained.
The governor’s satirical campaign is accompanied by ironic posts on social media. Last week, Newsom on X (formerly Twitter) imitated Trump’s posting style and opened a MAGA-style merchandise store featuring hats that say, “Newsom was right about everything.”
It is also worth noting that Senator Cynthia Lummis announced her intention to present a bill to the U.S. president regarding the structure of the crypto market by the end of November 2025.