TikTok Denies $300 Million TRUMP Memecoin Allegations by Congressman
- TikTok denies $300M TRUMP memecoin accusation by Rep. Sherman.
- No evidence links TikTok to memecoin purchase.
- GD Culture, not TikTok, planned $300M TRUMP purchase.
TikTok has officially denied claims made by Rep. Brad Sherman accusing its Chinese owners of purchasing $300 million worth of TRUMP memecoin.
The accusation against TikTok is unsupported by evidence, with no verified crypto market impact observed as of the latest updates.
TikTok Rebuts $300 Million Memecoin Accusation
Rep. Brad Sherman accused TikTok’s owners of buying $300 million in TRUMP memecoin as a bribe linked to extending TikTok’s U.S. ban deadline. TikTok has denied these allegations, stating:
“Congressman, claiming that the owners of TikTok are buying ‘Trump Coins’ is patently false and irresponsible and doesn’t even accurately reflect a letter you signed last month” — TikTok Policy Account, Official US-Affiliated Statement.
GD Culture Group, a separate entity, announced plans to buy $300 million in TRUMP and Bitcoin. They have no known ties to TikTok or ByteDance.
No Verified Crypto Impact from TikTok Allegations
TikTok’s response labeled Sherman’s claims false and irresponsible. The crypto market has not seen notable effects, with no verified link between TikTok and the alleged purchase.
The accusations stirred political discussions, but no formal investigations or actions from regulators have been announced. TikTok remained firm in rejecting the allegations.
Historical Allegations in U.S. Crypto Politics
In the past, political figures in the U.S. have made unconfirmed claims regarding crypto. Similar memecoin incidents have received media coverage but lacked evidence of high-level government bribery.
Based on historical trends, unfounded allegations often lead to market speculation rather than tangible shifts. TikTok’s refutation suggests continuity without major crypto impacts.
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