The recent launch of the GOLD token, associated with the Trump-promoted brand Real Trump Coins, has led to a dramatic market crash, with its value plummeting nearly 99% shortly after its introduction.
Launch and Immediate Fallout
Real Trump Coins, a brand publicly endorsed by former President Donald Trump in 2024, announced the launch of the GOLD token on X. However, the brand quickly deleted related posts, prompting scrutiny over the token’s legitimacy. According to blockchain analytics firm Lookonchain, the token’s market capitalization fell from approximately $50 million to just $500,000 within hours.
Token Distribution and Sales
Upon its launch, it was reported that the developers held 600 million GOLD tokens, while 15 newly created wallets acquired an additional 224.5 million tokens for $18,657. This resulted in the team controlling about 82.45% of the total supply. Lookonchain indicated that these wallets sold all 224.5 million tokens for approximately 3,178 Solana (SOL), translating to around $330,000, leading to an estimated profit of $312,000.
Speculation and Allegations
The swift decline in GOLD’s value has led to speculation about potential hacking or fraudulent activity. Some community members suggested that the Real Trump Coins X account may have been compromised, while others labeled the GOLD launch as a scam. Allegations also surfaced regarding possible involvement from Iranian hackers.
Regulatory Context
This incident adds to the ongoing scrutiny of Trump-linked crypto ventures, particularly as Trump advocates for legislative changes in the crypto space. On August 19, he urged Congress to pass a “fair version” of the CLARITY Act, which aims to establish a regulatory framework for crypto assets. Trump’s involvement in multiple crypto projects has raised conflict-of-interest concerns, especially as his administration influences crypto policy.
This article was produced by NeonPulse.today using human and AI-assisted editorial processes, based on publicly available information. Content may be edited for clarity and style.
