California Governor Gavin Newsom said he will intensify his attacks on President Donald Trump by launching a memecoin and expanding a wave of social media posts designed to parody the former president’s online persona, NBC Los Angeles reported.

The governor made the revelations during a recent appearance as a guest co-host on the “Pivot” podcast with journalist Kara Swisher.

He said he launched the initiative to highlight what he called the absurdity of Trump’s online persona, including the President’s frequent use of capital letters and AI-generated images depicting himself as a superhero.

Newsom said the coin, slated to be called “Trump Corruption,” will fund his Campaign for Democracy and redistricting efforts. He added that the project is part satire but reflects deep concerns about the state of U.S. democracy.

‘Trump Corruption Coin’

Newsom said that his Trump Corruption Coin is aimed at countering Trump-related digital assets, including the official TRUMP token. He added that the proceeds will be directed toward his Campaign for Democracy, which will fund redistricting efforts and grassroots organizing.

He joked that his original idea was to name the coin “Smelt,” a nod to reports about Trump’s personal fragrance. He added that if he decided to mimic the President further, he might even crowdsource names for a perfume line.

Despite the satirical edge, Newsom framed the project as a serious warning about democratic backsliding, adding to concerns raised by Democrats over Trump’s digital ventures.

The governor also expressed confidence that his meme coin would outperform Trump’s, recalling a previous White House exchange in which Trump bragged about profits from his coin and his wife, Melania’s, venture into the same market.

Gloves-off approach

Newsom said his gloves-off approach emerged after months of attempts to cooperate with Trump’s administration over federal disaster aid. However, he shifted course when Trump deployed National Guard troops and Marines to Los Angeles to back aggressive immigration raids.

He said the moment was a turning point for him and recalled directing his staff to abandon restraint and adopt an unrelenting strategy of public confrontation.

The Democratic governor, who is widely seen as a presumptive presidential candidate, said Americans should expect more trolling and social media barbs in the months ahead.

With the presidential race looming, Newsom’s blend of satire and digital campaigning signaled that the battle between Trump and his Democratic challengers is expanding into new political and financial arenas.

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In typical thug fashion, Donald Trump hammered Gavin Newsom for not thanking him after all that he’s done for Los Angeles —nobody else, after all, could have injected such chaos and violence into a city so spectacularly as the president.

“Incompetent Gavin Newscum should have been THANKING me for the job we did in Los Angeles, rather than making sad excuses for the poor job he has done,” Trump complained on Truth Social yesterday afternoon. “If it weren’t for me getting the National Guard into Los Angeles, it would be burning to the ground right now!”

Meanwhile, all 500 square miles in sunny Los Angeles has been business as usual throughout Trump’s military invasion, except for the few blocks downtown where ICE and the National Guard are concentrated. But like the schoolyard bully who demands that you thank him for punching you in the face and stealing your lunch money, Trump keeps demanding thanks from his targets. Volodymyr Zelenskyy wasn’t his first victim of forced gratitude, and Newsom won’t be his last.

From The Independent:

President Donald Trump said California Governor Gavin Newsom should be “thanking” him for calling in the National Guard in Los Angeles after an appeals court ruling delayed the military being used to help stop anti-ICE protests.

A U.S. District Judge ruled Trump’s deployment of National Guard troops in LA was “illegal” and violated the Tenth Amendment, and that troops had to leave. But a late-night decision by the U.S. Circuit Court of Appeals dealt a blow to Newsom and delayed the implementation of the lower court order.

For now, Trump will maintain control of the National Guard in LA after the court rulings.

Previously: 5 clever tactics for defusing bullies during negotiations

Bank of England Governor Andrew Bailey expressed skepticism about the role of central bank digital currencies (CBDCs) in financial stability, emphasizing that central banks must maintain control over monetary transmission through the banking system.

Speaking at the University of Chicago Booth School of Business in London on Feb. 11, Bailey reinforced that while financial markets are evolving, the principles underpinning money issuance and liquidity must remain intact.

Bailey highlighted that non-bank financial institutions (NBFIs) are playing an increasingly significant role in global finance, prompting central banks to adapt their risk management frameworks. However, he made clear that this shift does not warrant broadening access to central bank money beyond traditional banks.

“There is no rationale for standing facilities for non-banks as they do not create money.”

Bailey said, signaling that the introduction of a digital pound would not alter the BoE’s core approach to monetary stability.

Undermining commercial banks

With several major economies exploring CBDCs to modernize payments and financial infrastructure, Bailey emphasized that any digital currency issued by the Bank of England must preserve the existing financial framework.

Bailey confirmed that the Bank of England is still studying the feasibility of a digital pound, working in collaboration with the UK government. However, he stressed that while digital technologies offer new possibilities for payments, the decision to introduce a CBDC must be based on clear economic benefits rather than speculative trends.

Bailey said:

“We must have it if it’s proven that we need it.”

While he acknowledged that a digital pound could serve as an additional payment option, he warned against undermining the fundamental role of commercial banks as intermediaries.

Bailey also stressed that the concept of central bank liquidity must remain bank-centric. He reinforced that a CBDC would not be intended to replace private-sector financial institutions but rather complement the system.

According to Bailey:

“The standing provision of liquidity to support the so-called singleness of money goes only to the banks.”

In January, the Bank of England announced plans to launch a “Digital Pound Lab” later this year as part of an exploratory phase to determine the potential design and use cases of a UK CBDC.

Bailey’s stance suggests that while the Bank of England remains open to digital currency advancements, it will not rush to introduce a CBDC or expand stablecoin adoption without comprehensive regulatory safeguards in place.

Stablecoins must meet ‘high bar’

Bailey also discussed Bitcoin (BTC) and stablecoins during his speech. He characterized Bitcoin as solely a speculative asset, while acknowledging that stablecoins could serve some monetary functions.

However, he warned that stablecoins must meet a “high bar” of regulation if they are to operate within the payments ecosystem.

Bailey’s remarks come amid growing discussions on stablecoin regulation, particularly as the Bank of England and the UK government continue to assess their role in digital finance. He reiterated that while stablecoins are backed assets, they also exhibit characteristics similar to mutual funds, making them more opaque than traditional money.

Bailey said:

“I think we will have to set a high bar there because the expectations are that people using things for payments are appropriately set like money.”

His comments follow recent global shifts in regulatory approaches to crypto assets. Bailey acknowledged that the election of pro-crypto US President Donald Trump could reshape global regulatory dynamics but noted that it remains unclear what specific reforms his administration will pursue.

According to Bailey:

“The Biden administration, particularly the SEC, had got into a situation where it couldn’t get a regulatory framework and was using action through the courts. That was becoming more challenging, frankly. So there is a gap there in terms of having a consistent regulatory framework, but we don’t know what that’s going to be.”