California Governor Gavin Newsom confirmed this week that he will launch a satirical memecoin called Trump Corruption Coin, directly targeting the TRUMP token associated with former President Donald Trump. The announcement was made during the Pivot podcast, where Newsom reinforced the political and provocative tone of the initiative.
The idea behind Trump Corruption Coin
According to Newsom, funds raised through the memecoin will go toward his Campaign for Democracy, focused on civic awareness and redistricting efforts. The goal is to mock Trump’s growing presence in the crypto market, where his TRUMP token, built on the Solana blockchain, has already reached billions in market value.
Political strategy and satire
Newsom has been stepping up his satirical attacks against Trump, from using ironic merchandise to posting in all caps on X, imitating his political rival. During the announcement, he said: “We’re about to put a memecoin on the market… let’s see how your coin does against ours.”
Market impact
The TRUMP token has reached an estimated market capitalization of $1.6–$1.7 billion, despite its high volatility. Newsom’s move adds a new layer to the political rivalry now unfolding within the cryptocurrency space, highlighting how digital assets are increasingly intertwined with campaign strategies and investor sentiment.
What comes next
Technical details of the memecoin have not yet been disclosed, such as tokenomics or an official launch date. Investors and analysts are watching closely to see how the market, the crypto community, and Trump himself will react to this unusual political move.
Sources:
Politico | CryptoSlate | FX Leaders | CoinMarketCap Academy
