Today in crypto, California Governor Gavin Newsom says his planned memecoin is meant to expose the absurdity of Trump’s crypto ventures, crypto social media activity suggests potentially more downside ahead for the market. Meanwhile, Eric Trump predicts $1M BTC.
California governor teases ‘Trump Corruption Coin’ in jab at MAGA memecoins
California Governor Gavin Newsom has teased plans to launch a “Trump Corruption Coin” as a direct response to Donald Trump’s controversial involvement in crypto, especially through memecoins.
Speaking on the “Pivot” podcast, Newsom, a Democrat, said the planned memecoin, named explicitly after Trump’s alleged scandals, is part of his broader “Campaign for Democracy” initiative, with proceeds from the coin going toward redistricting efforts and voter outreach.
“We’re about to put a meme coin out,” Newsom said during the interview. “And you know what, Donald Trump? We’ll see how well your coin does versus our coin.” When asked if it would be called a “Gavin Coin,” the governor replied: “No, it’s Trump Corruption Coin.”
“We’re just trying to turn up the heat and tune people into the absurdity,” he added. “This is one of the great grifters of our time,” Newsom said of Trump. “None of this is normal.”
Crypto ‘buy the dip’ calls are spiking, which may signal more downside
The rising number of “buy the dip” calls following Bitcoin’s 5% drop over the past week could signal more downside ahead for the crypto market, according to sentiment platform Santiment.
“Clearly, overall, in the markets, people are getting antsy and trying to find some entry spots now that prices have cooled down a bit,” Santiment analyst Brian Quinlivan said in a video published on YouTube on Saturday.
Santiment said in a separate report published on the same day that social media mentions of “buy the dip” have increased significantly amid the crypto market downturn, which may be a warning sign for the market.
“Don’t interpret ‘buy the dip’ chatter as a definitive bottom signal. A true market floor often coincides with widespread fear and a lack of interest in buying,” Santiment said.
Eric Trump says “no question” BTC is going to $1 million
American Bitcoin (ABTC) co-founder Eric Trump took the stage at the Bitcoin Asia 2025 conference in Hong Kong and told the audience that Bitcoin (BTC) is going to hit $1 million in the next several years.
“There's no question that Bitcoin hits $1 million,” Trump told the audience on Friday. Trump said that more savvy financial investors, including institutions, sovereign funds, and wealthy families, are all buying BTC. He added:
“You've got nation states that are buying the hell out of Bitcoin. You've got Fortune 500 companies that are buying the hell out of Bitcoin. You've got the biggest families, you've got the biggest companies on Earth that believe in this digital store of value. Everybody wants Bitcoin. Everybody is buying Bitcoin.”
The price of Bitcoin continues to be debated among investors, industry executives, and analysts, with several analysts also calling for seven-digit BTC prices due to ongoing fiat currency inflation worldwide.
