TikTok Denies Involvement in TRUMP Memecoin Purchases
TikTok has officially denied allegations by Congressman Brad Sherman that it purchased $300 million worth of TRUMP memecoin. The platform called these claims false and irresponsible, stating they misrepresent the facts.
Controversy Over TikTok’s US Future
The allegations emerged during debates about TikTok’s operations in the United States. President Donald Trump had delayed a potential ban or forced sale of TikTok, extending the deadline for compliance with U.S. regulations by 90 days.
Sherman’s Claims and TikTok’s Rebuttal
Congressman Sherman argued the delay was illegal, implying it resulted from the alleged TRUMP memecoin purchases. TikTok responded on social media, calling the accusations baseless and noting they distorted previous communications.
Industry Response to the Allegations
Crypto experts and observers questioned Sherman’s claims, citing his history of opposing cryptocurrency. Meanwhile, the Trump administration has promoted dollar-backed stablecoins to reinforce the U.S. dollar’s dominance.
