California Governor Gavin Newsom announced plans to launch a meme coin project named "Trump Corruption Coin" to satirize former President Trump's controversial activities in the cryptocurrency sector. The initiative, revealed during a podcast, aims to use the proceeds for redistricting and voter outreach efforts. Reports indicate that Trump has amassed approximately $2.4 billion from crypto-related ventures since 2022, representing 44% of his wealth during his political career. Newsom's project is seen as a pointed critique of Trump's brand and involvement in the crypto industry.