Trump-Licensed Brand Denies Ties to Sudden Solana Token Collapse

A Trump-linked merchandise brand is denying any ties to a Solana token that rapidly rose and fell in value, leaving investors with losses. Real Trump Coins claims it never authorized the GOLD token, despite its verified X account and official website promoting the asset before its collapse.

The token briefly hit a $66 million market cap on August 29 but lost nearly all of its value within minutes, according to on-chain data from EmberCN. Lookonchain raised the alarm immediately, noting that the developer and 15 newly created wallets controlled an 82.45% supply concentration before the public even noticed.

The Real Trump Coins X account posted the Solana contract address for GOLD token on August 29, directing buyers to the brand's website where it was advertised as 'the Trump Foundation's most ambitious crypto project to date.'

Real Trump Coins issued a statement saying it 'has not authorized and will not launch, promote, or authorize any digital token.' However, the denial left investors with unanswered questions about how the GOLD token was launched and promoted.