Real Trump Coins promoted GOLD before removing related X posts, while wallets linked to the team sold 224.5 million tokens as its market value plunged by roughly 99%.
A Solana-based token promoted by a Trump-linked coin brand plunged within hours of launching, prompting questions about its creators and the unusual trading activity surrounding it.
Real Trump Coins, a brand publicly promoted by US President Donald Trump in 2024, advertised the “Trump Digital GOLD” token on X before removing the related posts on Saturday, according to blockchain analytics platform Lookonchain.
As of publication, the Real Trump Coins website still promoted GOLD, advertising a 4% trading fee and pledging to allocate 99% of those fees toward token buybacks in an effort to push it into the top 10 crypto assets by market capitalization.
The launch has raised doubts among crypto observers about GOLD’s legitimacy, with some speculating that the Real Trump Coins website and its X account, which Trump follows, may have been compromised.
GOLD Token Wallets Sell as 82% of Supply Remains Concentrated
The token appeared early Saturday after the Real Trump Coins X account, which is followed by Trump’s official account, announced the GOLD launch and directed users to RealTrumpCoins.com to purchase it.
Lookonchain flagged the launch soon after, reporting that the developer held 600 million GOLD while 15 newly created wallets spent $18,657 to purchase another 224.5 million tokens. Lookonchain said the team controlled 82.45% of the total supply and urged users to exercise caution.
Lookonchain later reported that the 15 wallets it linked to the team sold all 224.5 million GOLD for 3,178 Solana (SOL), worth roughly $330,000. GOLD then lost almost all of its value, with its market capitalization dropping from around $50 million to $500,000 at the time of publication, according to DEX Screener.
“GOLD just rugged!” Lookonchain said, estimating that the wallets generated a $312,000 profit, representing roughly 17 times their original investment.
What Is Real Trump Coin? A Complete Guide
Trump publicly endorsed RealTrumpCoins.com in September 2024 while announcing his silver medallions, calling the website the exclusive source for purchasing them. The site states that the Trump Organization does not manufacture, distribute or sell the products.
The sudden promotion of GOLD and the later removal of related X posts sparked speculation that the brand’s X accounts and website may have been compromised. Several crypto outlets have since called GOLD an apparent scam or rug pull, while unverified reports have attributed the suspected breach to Iranian hackers.
The GOLD incident has intensified scrutiny of Trump-linked crypto ventures as the president urges Congress to move forward with legislation that could reshape how the US regulates the industry.
Trump urged lawmakers on Aug. 19 to pass a “fair version” of the CLARITY Act, a proposed bill that would create a regulatory framework for crypto assets and clarify whether tokens should fall under securities or commodities rules.
Trump and his family have supported or launched several crypto projects, including the Official Trump (TRUMP) memecoin and World Liberty Financial. These ventures have faced conflict-of-interest concerns as his administration develops crypto policy, although the White House has rejected allegations of wrongdoing.
