TikTok has denied allegations that the platform invests in Trump Meme Coin following comments from Congressman Brad Sherman.
Congressman's Accusations
Congressman Brad Sherman claimed in a post on X that the owners of TikTok are purchasing 'Trump Coins,' linking the accusation to Trump's recent executive order extending a 90-day deadline for a potential ban or sale of TikTok in the U.S.
TikTok's Response
TikTok responded to the allegations, labeling them as 'patently false and irresponsible.' In a post on its official TikTok Policy account, the platform highlighted contradictions between Sherman's assertion and a letter he had signed earlier.
Political Context
The dispute has emerged amid escalating U.S.-China tensions and a broader scrutiny of TikTok's data practices. Recent reports have noted ByteDance's 60% non-Chinese ownership and found no evidence of data misuse, though the platform is still under investigation in the U.S.
The developments underscore not only the complex relationship between TikTok and the U.S. government but also growing concerns about the legitimacy of cryptocurrency linked to political issues.
