TikTok has officially denied accusations made by Congressman Brad Sherman regarding a $300 million memecoin purchase, asserting that these claims lack evidence.
TikTok's Response to Accusations
Congressman Brad Sherman alleged that TikTok's owners are buying $300 million in TRUMP memecoins as a bribe linked to extending the U.S. ban deadline. TikTok refuted 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].
Lack of Verified Crypto Market Impact
TikTok's response labeled Sherman's claims as false and irresponsible. The cryptocurrency market has not experienced notable shifts tied to the alleged purchase, and there has been no verified link between TikTok and the transaction. While the allegations sparked political discourse, no formal investigations or regulatory actions have been announced.
Historical Context of Crypto Allegations in U.S.
In the past, political figures in the U.S. have made unverified claims regarding cryptocurrency. Similar memecoin incidents have received media attention but lacked evidence of high-level government bribery. Based on historical trends, unfounded allegations often lead to market speculation rather than concrete changes. TikTok's denial suggests stability without significant impacts on the cryptocurrency market.
TikTok's refutation indicates that the allegations regarding the memecoin purchase are baseless and raises questions about political manipulation involving cryptocurrencies.
