California Governor Gavin Newsom has stirred fresh controversy by suggesting the launch of a parody cryptocurrency called the “Trump Corruption Coin.”
Newsom floated the idea in an August 29 appearance on the Pivot podcast. He framed it as a response to President Donald Trump’s deepening involvement in the digital asset industry.
Why California Governor Wants to Launch a Trump Corruption Coin
According to Newsom, Trump’s long record of engagement with crypto firms has created an environment ripe for conflicts of interest.
“This is just jaw-dropping. And none of this is normal. Again, none of this is funny. I mean, it’s funny in one respect, but it’s also extraordinary what’s going on. It’s jaw-dropping,” Newsom stated.
Newsom also suggested that members of Trump’s family have entered into digital asset deals timed to coincide with policy decisions such as tariffs.
Considering this, the governor said he would continue to call out the president’s “graft and corruption [and] self-dealing ” in the crypto industry.
Newsom’s remarks underscored a broader argument that Trump’s crypto activities go beyond personal ventures and now intersect directly with his role in government.
Trump’s involvement with blockchain projects has expanded considerably since his return to office in January.
He has promoted initiatives like the World Liberty Financial platform and its USD1 stablecoin, rolled out TRUMP-branded coins, and backed multiple NFT collections.
His son Eric Trump has been especially vocal, saying the family’s interest in crypto grew after traditional banks cut off their access to financial services.
Meanwhile, these personal investments have coincided with broader policy actions.
His administration has appointed pro-crypto officials like Howard Lutnick to key regulatory roles. It has also signed executive orders designed to integrate digital assets more deeply into mainstream finance.
According to him, these steps position the United States as a leader in the fast-growing sector.
However, Democrats contend that the overlap between Trump’s personal projects and regulatory agenda is blurring ethical boundaries.
Senator Elizabeth Warren and other lawmakers have cautioned that the president’s influence over both policymaking and private ventures risks undermining trust in the regulatory process.
As a result, Democratic legislators have since introduced measures to restrict public officials from directly investing in cryptocurrencies.
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