A Solana-based token promoted by a Trump-linked coin brand collapsed within hours of its launch, raising questions about who was behind it and its unusual business practices.
Real Trump Coin, a brand publicly promoted by US President Donald Trump in 2024, said the “Trump Digital Gold” token on X before deleting posts related to it on Saturday. According to On blockchain analytics platform LukeChain.
Real Trump Coin Website continued According to the publication, Gold is being promoted, advertising 4% trading fees and promising to use 99% trading fees to buy the token in an attempt to make it a top-10 crypto asset by market capitalization.
The launch led crypto watchers to question GOLD’s legitimacy and who was behind it, with some suggesting Real Trump Coins had been compromised.
Gold token wallets are sold at 82% supply density
The token was revealed early Saturday when the Real Trump Coin X account, which follows Trump’s official account, announced the gold launch and directed users to RealTrumpCoins.com to purchase the token.
Lukenchain flagged Shortly after the launch, note that the developer has 600 million gold while 15 newly created wallets spent $18,657 to acquire another 224.5 million tokens. “The group currently controls 82.45% of the total supply,” LukeChain said, advising users to be cautious.
see later Report The 15 wallets, which it linked to the group, sold all 224.5 million gold to 3,178 solanas (SOL), worth about $330,000. GOLD subsequently lost almost all of its value, dropping its market capitalization from around $50 million to $500,000 at the time of publication. According to to the DEX screener.
Source: Dex Screener
“Gold is just laborious!” Lookonchain said, estimating the wallets earned $312,000, or about 17 times their initial investment.
What is the Real Trump Coin?
Trump in public promoted When RealTrumpCoins.com announced its silver coins in September 2024, it described the website as the exclusive place to buy them. The site states that the products are not manufactured, distributed or sold by the Trump Organization.
The sudden gold promotion and subsequent deletion of related X posts led to speculation that real Trump coins had been compromised. Solana community member Fabiano.sol claimed Real Trump Coin X account was hacked, while onchain analyst Embercn described Gold as a scam. X User Titan too to share Claims that Iranian hackers were allegedly behind the “fake Trump launch”.
US President Donald Trump launched the Real Trump Coin brand in September 2024. Source: Truth Social
The gold episode adds to the scrutiny of Trump-linked crypto ventures as the president pushes Congress to move forward with legislation that would reshape US oversight of the industry.
Related: Trump Costs Investors $4.7B Through Crypto ‘Scheme’: Public Citizen
Trump on August 19 urged lawmakers to pass a “fair version” of the Clarity Act, proposed legislation that would establish a regulatory framework for crypto assets and clarify whether tokens fall under securities or commodities rules.
Trump and his family have backed or launched several crypto ventures, including Official Trump (TRUMP) MemeCoin and World Liberty Financial. Ventures have raised conflict-of-interest concerns as his administration shapes crypto policy, while the White House has denied any impropriety.
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