Trump-promoted brand touts GOLD before token collapse

A Solana-based token promoted by a Trump-linked coin brand collapsed within hours of its launch, raising questions over who was behind it and its unusual trading activity.Real Trump Coins, a brand US President Donald Trump publicly promoted in 2024, touted the “Trump Digital GOLD” token on X before deleting related posts on Saturday, according to blockchain analytics platform Lookonchain.The Real Trump Coins website continued promoting GOLD as of publication, advertising a 4% trading fee and pledging to use 99% of trading fees to buy back the token in an effort to make it a top-10 crypto asset by market capitalization.The launch has left crypto observers questioning GOLD’s legitimacy, with some suggesting the Real Trump Coins website and its Trump-followed X account may have been compromised.GOLD token wallets sell amid 82% supply concentrationThe token surfaced early Saturday when the Real Trump Coins X account, which Trump’s official account follows, announced the GOLD launch and directed users to RealTrumpCoins.com to buy the token.Lookonchain flagged the launch shortly afterward, noting that the developer held 600 million GOLD while 15 newly created wallets spent $18,657 to acq...