The tongue-in-cheek token is set to fund voter outreach and redistricting efforts under Newsom’s Campaign for Democracy.

Speaking on the Pivot podcast, the governor said the coin was designed as a parody of Trump’s controversial crypto ventures, which have become a central piece of his post-presidency wealth.

Rather than presenting the initiative as a standard campaign fundraiser, Newsom cast it as a pointed satire. “Trump has turned crypto into another grift,” he said, suggesting the coin would highlight what he called the absurdity of Trump’s self-branding as the “crypto president.”

Trump’s Deep Crypto Ties

Trump has quietly become one of the most crypto-entangled political figures in U.S. history. Financial filings show he earned more than $57 million through World Liberty Financial, where he holds billions of governance tokens.

Investigations from outlets like The New Yorker estimate his total crypto-related profits at $2.4 billion since 2022, accounting for nearly half of his personal fortune.

In addition to personal memecoins and NFTs, Trump’s media company claims to hold over $2 billion in Bitcoin and other digital assets, solidifying his image as a crypto power player. That embrace has fueled concerns among critics who see conflicts of interest at the highest levels of government.



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The post Memecoins Get Political: California Governor to Launch Token Targeting Trump’s Crypto Wealth appeared first on Coindoo.

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Filed under: Bitcoin - @ August 31, 2025 5:02 pm