Trump-promoted brand touts GOLD before token collapse
Real Trump Coins promoted GOLD before deleting related X posts, while team-linked wallets sold 224.5 million tokens as its market value fell about 99%.
Real Trump Coins, a brand promoted by US President Donald Trump in 2024, claimed to be offering a "Trump Digital GOLD" token on X. However, the token quickly collapsed, with trading halving to just about 2% of its initial value within hours of its launch. The website continued promoting the token, stating that 99% of trading fees would be used to buy back the cryptocurrency in an attempt to make it a top-10 asset by market capitalization.
The launch raised questions about the legitimacy of the token, with some analysts suggesting that the Real Trump Coins website and associated X account may have been compromised. Lookonchain, a blockchain analytics platform, flagged the launch and noted that the developer held 600 million GOLD tokens while 15 newly created wallets spent $18,657 to acquire another 224.5 million tokens.
The 15 wallets subsequently sold all 224.5 million GOLD tokens for 3,178 Solana (SOL), worth around $330,000, making a $312,000 profit. The collapse of the token left crypto observers questioning its authenticity.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
