California Governor Gavin Newsom has announced the launch of “Trump Corruption Coin.”
This is a meme-based crypto designed to satirize Donald Trump’s presence in the crypto industry while raising funds for his own political movement.
Speaking on the Pivot podcast, hosted by Kara Swisher and Scott Galloway, Newsom explained that the satirical coin is part of his Campaign for Democracy. The campaign aims to strengthen civic awareness, protect voting rights, and reform redistricting efforts.
“We’re about to put a meme coin out,” Newsom quipped. “Donald Trump, let’s see how well your coin does compared to ours.”
Mixing Humor with Political Messaging
Unlike Trump’s ventures, which were marketed as serious investments, Newsom’s coin takes a different approach. It aims to highlight what he calls the “absurdity of political grifting.”
The governor said proceeds will be funneled into causes that challenge Trump’s political influence. He emphasized that humor and parody would remain central to his team’s strategy.
“This is one of the great grifters of our time,” Newsom said, referring to Trump. “Using parody coins and satire is a way to expose that.”
Satire Beyond the Blockchain
The meme coin isn’t Newsom’s first foray into parody politics. His campaign has already released merchandise carrying slogans like “Make America Gavin Again,” a tongue-in-cheek spin on Trump’s “Make America Great Again” brand.
According to Newsom, the broader strategy is to challenge Trump’s dominance in digital spaces. By leveraging meme culture, he hopes to reach younger voters and energize his political base.
“We’re on the other side of this,” Newsom said. “No permission slips, no forgiveness. We go hard, and we don’t stop.”
Trump’s Foray into Crypto
President Donald Trump launched the Official Trump (TRUMP) meme coin on the Solana chain in January. The token soared to more than $75 shortly after launch but has since dropped sharply to around $8.37, with a market capitalization of around $1.7 billion. As of this writing, TRUMP ranks as the 56th largest cryptocurrency by market capitalization.
Trump has not limited himself to meme coins. His family recently backed World Liberty Financial (WLFI), a project developed on the Ethereum network.
Upon debut, WLFI token reached a $26 billion valuation across major exchanges, including Coinbase and Kraken. Reports suggest the Trump family’s share in the project is valued at nearly $6 billion.
Criticism and Conflict of Interest Concerns
Meanwhile, Trump’s crypto ventures have drawn intense criticism from political opponents, who accuse him of blurring the line between personal business and public service.
Democrats argue that Trump’s promises, such as creating a Strategic Bitcoin Reserve and easing crypto regulations, raise questions about whether his policies are motivated by national interest or personal profit.
Meme Coins
Meme coins, by design, are highly speculative. They thrive on internet culture, celebrity promotion, and viral attention, but rarely maintain long-term value. The rapid rise and fall of TRUMP coin is just one example of this volatility.
Still, meme coins have proven to be powerful digital engagement tools, attracting online communities and driving political or cultural narratives. For Newsom, the real payoff may not be financial but symbolic, using blockchain culture to parody and undermine Trump’s image.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
