Sure! I'd be happy to help you answer this question.

The country that received the most gold medals during the 1976 Olympics was the Soviet Union, with a total of 125 gold medals. However, the Soviet Union no longer exists as a country. It dissolved in 1991 and split into several independent countries, including Russia, Ukraine, Belarus, and others.

So, the answer to the question is "no," the country that received the most gold medals during the 1976 Olympics does not still exist.