Real Trump Coins refutes GOLD token launch following market crash
The Trump-associated Real Trump Coins has stated it gave no approval for GOLD or any cryptocurrency token amid ongoing concerns about its X profile, linked websites and the heavily concentrated distribution of tokens.
The organization known as Real Trump Coins has issued a denial regarding the launch, promotion, or approval of the Trump Digital GOLD cryptocurrency that momentarily surfaced throughout its digital properties before experiencing a sudden collapse, attributing the promotional campaign to what it described as "third-party bad actors."
In a statement posted to X on Saturday, Trump Coins declared: "Trump Coins has not authorized and will not launch, promote, or authorize any digital token," while simultaneously confirming it is collaborating with law enforcement agencies to conduct a full investigation into the incident.
This announcement comes in the wake of a GOLD token launch characterized by extreme concentration of ownership, with blockchain analytics firm Lookonchain disclosing that the project developer along with freshly established wallet addresses maintained control over 82.45% of the total token supply. The analytics platform further revealed that 15 wallets connected to the development team liquidated their token positions for approximately $330,000, generating an estimated profit of around $312,000.
The simultaneous involvement of the X social media account alongside the RealTrumpCoins.com website has left cryptocurrency community members puzzled, with X platform user Rune raising concerns about how both the social media account and the website domain could have been simultaneously compromised.
Despite the fact that the Real Trump Coins X account biography contained a link to TrumpCoins.com, the account was still actively redirecting its customer base to RealTrumpCoins.com as of Aug. 25 in a post that continued to be visible on the platform at the time this article was written.
As of the time this article was published, the RealTrumpCoins.com domain continued to feature the GOLD token promotional materials. Additionally, Trump remained a follower of the Real Trump Coins X account, which represented one of only 53 accounts that he followed on the social media platform.