PANews reported on August 31 that according to Cointelegraph, California Governor Gavin Newsom said in a podcast that he plans to launch a meme coin project called "Trump Corruption Coin" in response to Trump's controversial involvement in the cryptocurrency field. The proceeds will be used for redistricting and voter outreach.

It is reported that Trump has earned about $2.4 billion from crypto-related businesses since 2022, accounting for 44% of his wealth during his political period. This move is considered to be Newsom's ironic response to Trump's brand.