California Gov. Gavin Newsom Takes Aim at President Trump’s Crypto Pardons and Ventures

California Gov. Gavin Newsom launched a new state-backed website highlighting individuals pardoned or protected by President Donald Trump, including the pardon of Silk Road founder Ross Ulbricht and several high-profile digital asset executives.

Newsom Escalates Fight With President Trump

Gavin Newsom‘s site and press release argue that Trump’s use of executive clemency has extended to figures convicted of serious financial crimes tied to cryptocurrency markets, while Newsom positions California as supportive of blockchain innovation paired with consumer protection.

Among the most prominent cases cited is Ross Ulbricht, the founder of the marketplace Silk Road. According to Newsom’s data, Ulbricht was convicted in 2015 on narcotics trafficking and money-laundering conspiracy charges tied to a platform that facilitated more than $214 million in illegal drug sales. He was sentenced to life in prison without parole. Trump pardoned Ulbricht, fully overturning the sentence.

When the X account Governor Newsom Press Office posted Ulbricht’s image alongside Newsom’s chosen data, it swiftly prompted a flood of reactions directed at the California legislator. “Writing code is a crime now in California apparently,” the Libertarian Party of Tennessee wrote in response to the X post. “Pardoning [Ross Ulbricht] is literally the best thing that Trump has done in office,” another account replied, adding, “F***ing Democrats aren’t even good where they’re supposed to be good (bodily autonomy, govt out of personal lives).”

The X account Mises Caucus added:

“Your defamatory seething reaffirms Trump did good pardoning Ross. Furthermore, he should pardon all crypto political prisoners including Ian Freeman, Roman Sterlingov, Roman Storm, and Keonne Rodriguez.”

The website also highlights Trump’s pardon of Changpeng Zhao (CZ), the former chief executive of Binance. Newsom’s office claims Binance later supported a Trump-linked crypto venture, though Trump has publicly said he did not know Zhao. Additional crypto-related pardons cited include the co-founders of BitMEX — Arthur Hayes, Benjamin Delo, Gregory Dwyer, and Samuel Reed — who pleaded guilty to violating the Bank Secrecy Act. Trump also pardoned HDR Global Trading Limited, the parent company of the BitMEX exchange.

Newsom’s office further alleges conflicts tied to Trump’s personal crypto activities, claiming the Trump family has generated hundreds of millions of dollars from digital assets since early 2025, including through a meme coin and a crypto holding company. The website asserts that Trump suspended or softened regulatory actions involving crypto executives who later invested in Trump-linked ventures.

Also read: Trump Takes a Victory Lap After Dow’s All-Time High, Says He Built the ‘Greatest Economy’ Ever

The launch of the site coincides with the release of new crime data from the Major Cities Chiefs Association (MCCA) showing year-over-year declines in violent crime across major California cities. Newsom contrasts those figures with what he describes as Trump’s pattern of granting clemency to individuals convicted of financial, drug, and corruption-related crimes, including those reportedly connected to the crypto sector.

Critics argue that Newsom’s policies have hollowed out California, pointing to a combination of elevated living costs, visible disorder, and what they describe as complete government failure despite massive amounts of public spending. Detractors also highlight the state’s exceptionally high cost of housing, contending that taxes, energy prices, and insurance costs are inflated by regulatory and environmental rules. Several large corporations have moved far away from California due to these reasons.

Worries about crime and public safety — including concerns over retail theft, drug use, and open street crimes — have further weakened confidence in his leadership. At the same time, expectations are building that Newsom will seek the presidency in 2028. In fact, he’s the blue team’s top pick in the public’s eyes. Polymarket data indicates he holds a 36% chance of becoming the Democratic nominee but just an 18% chance of winning the general election. As of today, Polymarket shows JD Vance leading U.S. presidential election odds with a 32% edge.

FAQ ❓

• **Why did Gov. Gavin Newsom launch the new website?**The site highlights individuals pardoned or protected by President Donald Trump, including figures tied to cryptocurrency cases.
• **Which crypto-related pardons are featured?**The website cites the pardons of Ross Ulbricht, Binance’s Changpeng Zhao, and the co-founders of BitMEX.
• **How has the crypto community responded?**Reactions on X criticized Newsom’s framing and defended Trump’s use of clemency in crypto-related cases.
• **What does Polymarket show about Newsom’s political outlook?**Polymarket data gives Newsom a 36% chance of securing the Democratic nomination and an 18% chance of winning the presidency.