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Newsom to Launch Parody Coin Amid Trump’s Crypto Controversy

8/28/2025

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Summary

Story summary

California Governor Gavin Newsom plans to parody President Trump's meme coin, "$TRUMP," at a Politico summit.
Launched in January, Trump's coin reached a value exceeding $27 billion, benefiting him and his affiliates.
More than 800,000 investors reportedly lost $2 billion, with some calling it a "pump and dump" scheme.
Newsom suggested creating a novelty coin linked to Trump's cryptocurrency efforts.

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Story summary

California Governor Gavin Newsom plans to parody President Trump's meme coin, "$TRUMP," at a Politico summit.
Launched in January, Trump's coin reached a value exceeding $27 billion, benefiting him and his affiliates.
More than 800,000 investors reportedly lost $2 billion, with some calling it a "pump and dump" scheme.
Newsom suggested creating a novelty coin linked to Trump's cryptocurrency efforts.