Trump-Linked Crypto Token GOLD Implodes by 99% Amid Insider Control Concerns

A Solana token linked to Donald Trump's brand, GOLD, has plummeted by 99% after its launch. The token was marketed through a Real Trump Coins brand that publicly promoted the launch before deleting related posts.

The developer of the token, according to blockchain analytics firm Lookonchain, controlled about 82.45% of the total supply at launch, raising red flags for traders. A group of 15 newly created wallets acquired large amounts of GOLD and sold all tokens shortly afterward, with the developer's wallet selling $312,000 in profit, approximately 17 times their initial investment.

Real Trump Coins promoted the token on X before deleting related posts, fueling speculation about whether the account or promotion was compromised. The website continued promoting 'GOLD' at the time of publication, despite the social-media deletions.