TikTok officially denies Congressman Brad Sherman’s claims that its owners bought $300 million worth of TRUMP memecoins.
Congressman Brad Sherman’s Allegations
Congressman Brad Sherman expressed doubts about the legality of President Donald Trump’s Executive Order granting another extension for TikTok to avoid closure in the U.S. He also accused the platform of 'bribing' the government by purchasing TRUMP memecoins for $300 million.
TikTok’s Response to the Accusations
In an official response on its X page, TikTok refuted these accusations, stating they are 'patently false and irresponsible.' '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,' the company stated.
According to GD Culture Group
Sherman's allegations appear to be based on a press release from GD Culture Group, which announced a commitment to invest $300 million into TRUMP memecoins and Bitcoin. However, GD Culture has no known formal ties to TikTok, which is owned by the Chinese company ByteDance.
Thus, TikTok denies the allegations of having purchased TRUMP memecoins, emphasizing the lack of evidence and formal ties with GD Culture Group.
