Trump Digital Gold Token Implodes After Reaching Near-$60M Valuation
A Solana-based token called Trump Digital Gold (GOLD) crashed by over 99% after its market value skyrocketed to nearly $60 million in just a few hours.
The trouble began on August 29, 2026, when an X account named realtrumpcoins1 posted about the launch of GOLD and claimed that it was backed by the Trump Foundation.
The claim was not confirmed as an official endorsement from the Trump family, but the account appeared connected to the Trump Organization's merchandise business and was followed by Donald Trump's main X account.
This may have added to the token's appearance of legitimacy, causing traders to rush into it. The market value of GOLD quickly rose from almost nothing to nearly $60 million within two hours.
However, soon after reaching its peak, the promotional post was deleted, and the GOLD token began to drop.
The deletion of the promotional post and the concentrated token supply fueled accusations that the launch was a coordinated rug pull.