Trump Digital Gold Token Collapses in Suspected Rug Pull

A Solana-based cryptocurrency token called Trump Digital Gold collapsed within hours of its launch on August 29, 2026, after being promoted through a verified social media account linked to a brand previously endorsed by former President Donald Trump. The rapid decline, which saw the token's market value plummet by more than 95%, has sparked intense scrutiny over the project's legitimacy and raised questions about whether the promotional account was compromised.

The token surfaced early Saturday when the X account for Real Trump Coins, a brand Trump publicly promoted in 2024, posted about the GOLD launch and directed users to a website to purchase it. The account, which is followed by Trump's official profile and identifies itself as an official partner of the Trump Organization for physical collectibles, briefly gave the promotion an appearance of legitimacy. According to blockchain analytics firm Lookonchain, the token's developer held 600 million GOLD, while 15 newly created wallets acquired an additional 224.5 million tokens. This concentration meant that wallets linked to the team controlled approximately 82.45% of the total supply.

The collapse began shortly after the...