TikTok has officially rebutted allegations that its Chinese owners are investing in a memecoin associated with Donald Trump, as claimed by Congressman Brad Sherman.
TikTok's Response to Allegations
The official TikTok Policy account on X released a statement calling Sherman's claims "patently false and irresponsible." The company emphasized that the congressman's accusations misrepresented a letter he had previously signed.
Sherman's Accusations
Sherman, a long-time critic of both TikTok and cryptocurrency, alleged that the platform's Chinese owners were funneling $300 million into Trump's memecoin, describing it as a political bribe disguised as a digital asset investment. He stated, "Trump creates 'Trump Coins' at no cost, meaning this is just a $300 million bribe that goes right into his pocket."
Public Reaction to the Claims
Online reactions to Sherman's claims were divided. Some users expressed skepticism towards TikTok's denial, while others dismissed the accusations outright. Critics questioned Sherman's knowledge about cryptocurrencies, including his implication that a cryptocurrency can be created at no cost.
The allegations regarding TikTok's potential connection to Trump's memecoin have generated significant public interest and continue to be discussed in both political and cryptocurrency circles.
