The Trump-linked collectibles business says it never authorized the Solana-based GOLD token, even though the asset was briefly promoted through an associated X account and website before its price collapsed.
Real Trump Coins has denied launching or authorizing a cryptocurrency called Trump Digital GOLD after the Solana-based token was promoted through online channels associated with the business and then suffered a sharp collapse.
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The company said the activity was carried out by “third-party bad actors” and maintained that it had never approved the launch of a digital token.
“Trump Coins has not authorized and will not launch, promote, or authorize any digital token,” Real Trump Coins said in a statement posted on X on Saturday. The company added that it was working with authorities to investigate the incident.
The denial followed a period of confusion after the Real Trump Coins X account promoted GOLD and directed users to RealTrumpCoins.com, where the token was also advertised. Those social media posts were later deleted.
At the time of the controversy, the X account’s profile instead linked to TrumpCoins.com, a separate website associated with the company’s physical gold and silver collectibles business.
Questions remain over account and domain activity
The involvement of both the X account and RealTrumpCoins.com raised questions about how the promotion appeared across multiple channels previously connected to the business.
The Real Trump Coins X account directed customers to RealTrumpCoins.com on Aug. 25. Source: Real Trump Coins
Real Trump Coins had directed customers to RealTrumpCoins.com in earlier posts, including one as recently as Aug. 25, according to archived and contemporaneous reporting.
Even after the company denied involvement with GOLD, RealTrumpCoins.com continued displaying promotional material related to the token for a period of time. Meanwhile, TrumpCoins.com continued operating as a storefront for physical collectibles and did not prominently feature the digital asset.
The available evidence does not establish who controlled the promotional activity or whether one or more of the associated accounts or domains had been compromised.
The company has not publicly provided a detailed technical explanation of how the GOLD promotion appeared across those channels.
Token supply heavily concentrated
Separate onchain analysis raised concerns over the structure of the GOLD token launch.
Blockchain analytics platform Lookonchain reported that the token’s developer and newly created wallets controlled 82.45% of the supply.
According to Lookonchain, 15 wallets linked to the team later sold their holdings for approximately $330,000, generating an estimated profit of about $312,000.
The high concentration meant that a relatively small group of wallets controlled a substantial portion of the circulating supply, leaving the token vulnerable to severe selling pressure if those holders exited their positions.
GOLD subsequently lost most of its value shortly after launch.
The wallet activity does not by itself establish who was responsible for the project or prove that Real Trump Coins authorized the token. Real Trump Coins has explicitly denied doing so.
Trump connection added to market confusion
The episode attracted additional attention because of the company’s association with US President Donald Trump.
The physical Trump Coins business markets licensed collectibles using Trump’s name and likeness, and Trump continued to follow the Real Trump Coins X account after the GOLD controversy. At the time, it was one of a relatively small number of accounts he followed on the platform.
That connection may have contributed to the perceived legitimacy of the token promotion among some traders, although no member of the Trump family publicly confirmed the GOLD launch.
The incident highlights the risks of relying on branding, social media posts or a familiar domain alone when assessing a newly launched cryptocurrency.
For now, the central issue remains unresolved: Real Trump Coins says it never authorized GOLD, while the token’s appearance across channels previously connected to the business has yet to be fully explained.