Trump-linked token GOLD collapses nearly 98% hours after launch

Token promoted by Trump brand crashes within hours

A Solana-based cryptocurrency token called GOLD collapsed in value shortly after its launch on Saturday, raising questions about who controlled the project. The token was promoted by Real Trump Coins, a brand that US President Donald Trump publicly supported in 2024.

The account on X, formerly Twitter, that announced the launch later deleted posts about the token. Meanwhile, wallets linked to the team sold millions of tokens and made hundreds of thousands of dollars in profit. GOLD lost about 98% of its value, with its market capitalization falling from roughly $50 million to $500,000.

Team wallets sold 224.5 million tokens for $330,000

Blockchain analytics platform Lookonchain reported that 15 new wallets spent about $18,657 to buy 224.5 million GOLD tokens shortly after launch. These wallets then sold all of the tokens for 3,178 Solana (SOL), which was worth about $330,000 at the time.

Lookonchain said the team-controlled wallets made an estimated $312,000 profit, or about 17 times their initial investment. The developer also held 600 million GOLD tokens, giving the team control of roughly 82.45% of the total supply.

What the Real Trump Coins website says

The Real Trump Coins website continued promoting GOLD even after the price crash. It advertised a 4% fee on trades and claimed it would use 99% of those fees to buy back the token. The site said the goal was to make GOLD a top-10 cryptocurrency by market value.

Lookonchain summarized the event bluntly, writing: “GOLD just rugged!”

Questions over compromised accounts

The sudden launch, deletion of X posts, and suspicious trading activity led some observers to suggest the Real Trump Coins website and its X account may have been hacked.

Several crypto news outlets have described the GOLD launch as an apparent scam or rug pull. An unverified report has linked the suspected compromise to Iranian hackers, though this has not been confirmed.

Trump’s history with crypto projects

Trump publicly promoted RealTrumpCoins.com in September 2024 when he announced silver medallions tied to his brand. He described the website as the exclusive place to buy them.

The site states that its products are not manufactured, distributed, or sold by the Trump Organization. Trump and his family have also backed other crypto ventures, including the Official Trump memecoin and World Liberty Financial, drawing conflict-of-interest concerns as the administration pushes for new cryptocurrency regulations.

Why this matters

The episode adds to scrutiny of Trump-linked crypto ventures. Trump recently urged lawmakers to pass a “fair version” of the CLARITY Act, which would create a regulatory framework for digital assets and clarify whether tokens are securities or commodities.

• Real Trump Coins promoted a token called GOLD before deleting related posts.
• Team-linked wallets sold 224.5 million GOLD tokens for about $330,000.
• GOLD’s market value fell from roughly $50 million to $500,000.
• Suspicions remain about whether the brand’s accounts were compromised.

Confirmed: GOLD launched on Solana, was promoted by Real Trump Coins, and crashed about 98% in value. Wallets linked to the team sold 224.5 million tokens for $330,000. Team members controlled 82.45% of the supply. Real Trump Coins deleted X posts about GOLD. The website continued advertising the token. Trump promoted RealTrumpCoins.com in September 2024. Several crypto outlets called GOLD an apparent scam or rug pull.

Unconfirmed: Reports linking the suspected compromise to Iranian hackers have not been verified. It remains unclear whether the Real Trump Coins website or X accounts were actually hacked.

• Cointelegraph