Overview

• California Gov. Gavin Newsom said he plans to add a satirical memecoin to his Patriot Shop, describing it as a “Trump corruption coin.”
• He previewed the move during a Politico summit and in a teaser for Kara Swisher’s Pivot podcast, recounting a conversation with the president about what he called a “crypto grift.”
• Operational details have not been announced, including where the token would be available, how it would be structured, and the destination of any funds.
• Reporting on Trump’s $TRUMP coin has highlighted large early valuations and concentrated holdings tied to Trump-linked entities, with many investors said to have lost money.
• The coin tease extends Newsom’s broader trolling effort, which features Trump-style posts from his official press office and parody merchandise like red MAGA-style hats.