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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/31/2026

Trump-Branded GOLD Token Collapses 98% After Suspected $330K Rug Pull

What happened: The Solana-based "GOLD" token, promoted by the verified @realtrumpcoins1 account (claiming official Trump Organization ties), crashed approximately 98–99% on August 29, 2026.

Trump-Branded GOLD Token Collapses 98% After Suspected $330K Rug Pull

What happened: The Solana-based "GOLD" token, promoted by the verified @realtrumpcoins1 account (claiming official Trump Organization ties), crashed approximately 98–99% on August 29, 2026. The token peaked near $50–60 million in market cap before plummeting to around $600,000–770,000. On-chain analysis revealed that 15 team-linked wallets sold roughly $330,000 in GOLD (≈3,178 SOL), with the developer holding 600 million tokens and extracting an estimated $312,000 in profit. After the collapse, the account deleted denial posts and redirected to TrumpCoins.com. The Trump Organization and Eric Trump both denied any involvement, with the former stating it was "working with authorities."

Why it matters: The incident highlights persistent risks in meme-coin and celebrity-branded token launches, even when seemingly endorsed by verified and high-follower accounts. The ambiguity around whether the @realtrumpcoins1 account was hacked or complicit underscores the challenges of verifying legitimacy in crypto promotions. The rapid collapse—wiping out tens of millions in market cap—serves as a stark warning for retail participants chasing speculative tokens without due diligence.

Source: Cointelegraph, Yahoo/BeInCrypto, Crypto Briefing