TikTok Denies Trump Coin Buys To Congressman Brad Sherman
TikTok denied allegations of purchasing US President Donald Trump’s official memecoin, responding to claims by California Democratic Party Representative Brad Sherman. Sherman asserted that TikTok's owners planned to buy $300 million of the Official Trump memecoin, which TikTok labeled as "patently false." The denial coincided with Trump's executive order delaying TikTok's potential ban, marking the third postponement. Sherman argued that US laws permit only one extension and criticized Trump for not enforcing the ban. Allegations referenced GD Culture Group's plans to invest in Trump memecoin and Bitcoin, despite no formal ties to TikTok or its parent company, ByteDance. Online reactions included skepticism towards Sherman’s claims and criticism of his anti-crypto stance, contrasting with the Trump administration's support for US dollar-pegged stablecoins.
