The Democratic Party’s official social media account ignited a firestorm within the cryptocurrency industry this week after posting a ‘yikes’ message alongside a graphic mocking market losses. The post, which coincided with Bitcoin plunging 8% and over $2.6 billion in positions being liquidated in 24 hours, drew sharp rebukes from executives and policy advocates who accused the party of partisan insensitivity toward widespread investor pain. The backlash underscores the growing political risks for Democrats as they navigate digital asset policy ahead of midterm elections.
about Democrats Mock Crypto Crash, Face Backlash From Industry LeadersGavin Newsom
1 posts last weekCalifornia Ends Forced Crypto Sell-Offs with SB 822
California has become the first US state to protect unclaimed cryptocurrency assets from forced liquidation through Senate Bill 822, signed into law by Governor Gavin Newsom in October 2025. This landmark legislation requires digital assets like Bitcoin and Ether to be transferred to the state in their native form rather than being automatically sold, treating cryptocurrencies similarly to traditional financial instruments and preventing unintended taxable events for holders.
about California Ends Forced Crypto Sell-Offs with SB 822California Law Protects Abandoned Bitcoin From Immediate Sale
California has enacted groundbreaking legislation that prevents the immediate liquidation of abandoned Bitcoin holdings, marking a significant shift in how states handle unclaimed cryptocurrency assets. Governor Gavin Newsom’s signature on the bill updates California’s unclaimed property law to require that abandoned Bitcoin and other cryptocurrencies be maintained in their original digital format rather than automatically converted to cash, providing crucial legal clarity for both asset owners and crypto custodians while easing recovery processes for lost digital wealth.
about California Law Protects Abandoned Bitcoin From Immediate SaleCalifornia Bans Forced Crypto Liquidation for Unclaimed Assets
California has become the first US state to prohibit the forced liquidation of unclaimed cryptocurrency assets. Governor Gavin Newsom signed SB 822 into law, requiring dormant crypto to be held in-kind rather than automatically converted to cash. This landmark legislation fundamentally changes how digital assets are handled under state unclaimed property laws.
about California Bans Forced Crypto Liquidation for Unclaimed AssetsCalifornia Protects Unclaimed Crypto from Forced Liquidation
California has become the first state to explicitly protect unclaimed cryptocurrency from forced liquidation under new legislation signed by Governor Gavin Newsom. Senate Bill 822 updates California’s Unclaimed Property Law to include digital financial assets, treating cryptocurrencies like Bitcoin and Ethereum with the same legal framework as abandoned bank accounts and securities, preventing unwanted taxable events and ensuring consumer protection in the digital asset space.
about California Protects Unclaimed Crypto from Forced LiquidationBitcoin Advocate Ian Calderon Runs for California Governor
Former California Assemblymember Ian Calderon has launched a long-shot campaign for governor in 2026, positioning himself as the cryptocurrency candidate in a crowded field to replace Gavin Newsom. Calderon announced his bid on social media platform X, centering his platform on affordability issues like housing, groceries, and gas while explicitly advocating for Bitcoin as a modern financial solution. His campaign directly challenges established political approaches by arguing that current leadership relies on “yesterday’s ideas” to solve today’s problems.
about Bitcoin Advocate Ian Calderon Runs for California GovernorCalifornia Warns Oil Traders Against Market Manipulation
California’s energy regulator has issued a stern warning to oil traders against potential market manipulation as fuel supplies tighten heading into year-end. In a direct communication to Governor Gavin Newsom, the agency cautioned that looming fuel shortfalls could trigger significant price spikes at the pump, creating fertile ground for market abuse. The regulator announced intensified scrutiny of traders whose purchasing activities appear designed to artificially inflate market prices, particularly when their financial positions would benefit from such increases.
about California Warns Oil Traders Against Market ManipulationNewsom Mocks Trump with ‘Trump Corruption Coin’ Meme Token
California Governor Gavin Newsom revealed plans to launch ‘Trump Corruption Coin’ during an appearance on the Pivot podcast, framing it as a satirical response to President Trump’s Official Trump (TRUMP) meme coin on Solana. Newsom criticized Trump as ‘one of the great grifters of our time’ and promised his coin would outperform Trump’s token, which currently holds a $1.7 billion market cap despite trading 88% below its all-time high. The announcement comes amid ongoing Democratic criticism of Trump’s crypto ventures, including his recent WLFI token launch valued at $26 billion, in which the Trump family holds a $6 billion stake. Newsom’s move represents both political theater and commentary on the volatile nature of meme coins, which are known for extreme price swings and short lifespans.
about Newsom Mocks Trump with 'Trump Corruption Coin' Meme TokenNewsom Launches Anti-Trump Memecoin to Fund Democracy Efforts
California Governor Gavin Newsom announced plans to launch ‘Trump Corruption Coin,’ a satirical memecoin designed to counter Trump-related digital assets and fund democratic initiatives. The project, revealed during a podcast appearance, will direct proceeds to Newsom’s Campaign for Democracy for redistricting efforts and grassroots organizing. While framed as political satire, Newsom emphasized serious concerns about democratic backsliding and expressed confidence his coin would outperform Trump’s crypto ventures. The move represents an escalation of Newsom’s confrontational strategy against Trump, stemming from conflicts over immigration enforcement and disaster aid. This digital campaign approach signals how political battles are expanding into cryptocurrency and social media realms as the 2024 presidential race approaches.
about Newsom Launches Anti-Trump Memecoin to Fund Democracy EffortsNewsom Plans ‘Trump Corruption Coin’ Memecoin to Counter Trump
Governor Gavin Newsom revealed his intention to create a memecoin named ‘Trump Corruption Coin’ as a direct response to Donald Trump’s involvement in cryptocurrency. Announced on the ‘Pivot’ podcast, the coin is part of Newsom’s ‘Campaign for Democracy’ initiative, with all proceeds directed toward supporting redistricting and voter outreach programs. Newsom framed the effort as a way to expose the absurdity of Trump’s crypto ventures while simultaneously funding democratic processes. The move signals an unusual intersection of politics, satire, and cryptocurrency, leveraging memecoin culture for political messaging and fundraising.
about Newsom Plans 'Trump Corruption Coin' Memecoin to Counter TrumpXRP Soars 10% Amid Fed Rate Cut Hopes & ETF Launch
XRP’s price surged 10.15% today, reaching $3.25, fueled by multiple factors including a drop in US PPI inflation (2.3% vs. 2.5% expected), boosting Fed rate cut expectations. The GENIUS Act, backed by Trump, and the ProShares XRP ETF launch further supported the rally. Analyst Ali Martinez noted a bullish MVRV golden cross, historically preceding a 630% surge. Ripple’s involvement in California’s Breakthrough Project and a 70% spike in trading volumes ($12.01B) added momentum. Santiment data shows short-term holders up 24.5%, with long-term gains at 47%, signaling strong market confidence.
about XRP Soars 10% Amid Fed Rate Cut Hopes & ETF LaunchCalifornia Embraces Crypto for Government Modernization
California Governor Gavin Newsom has signed an executive order launching the ‘California Breakthrough Project,’ a collaboration between the state and tech firms—including crypto giants Ripple, Coinbase, and MoonPay—to modernize government services. The initiative aims to improve efficiency in areas like licensing, workforce programs, and public benefits delivery. Industry leaders see this as a significant step in legitimizing blockchain beyond financial speculation, positioning it as foundational infrastructure for transparent and resilient public systems. With California’s economy ranking fifth globally, its embrace of crypto-native firms early in the policymaking process could set a precedent for other governments.
about California Embraces Crypto for Government Modernization