After its latest round of venture funding, Colossal’s private market value was about $10.2 billion.

Newsom attributed California’s showing to a growing population and record tourism spending coupled with a high concentration of venture capital and new business ventures.

The digital currency is one of several crypto-related ventures launched by businesses linked to Trump, who has called himself the "crypto president".

"We look at these projects as really long term projects," said Page Thompson, president of new ventures at Universal Destinations & Experiences, speaking for the first time since the announcement.

As to the first question, neither of them definitively ruled out another joint venture.