The social media platform TikTok denied accusations regarding the purchase of TRUMP memecoin made by a U.S. Congressman. The platform addressed the situation in a statement via its official account.
Sherman's Allegations
Congressman Brad Sherman of the California Democratic Party previously accused TikTok of purchasing TRUMP memecoin for $300 million, labeling it as bribery. His statement included: *"Trump creates 'Trump Coins' at no cost, meaning this is just a $300 million bribe that goes right into his pocket."*
TikTok's Response to Allegations
In response, TikTok stated via its Policy X account: *"Claiming that the owners of TikTok are buying 'Trump Coins' is patently false and irresponsible."* The platform affirmed that it has nothing to do with memecoin transactions.
Political Context and Consequences
The exchanges between Sherman and TikTok followed President Trump's executive order extending the enforcement of a potential sale or ban of the app by 95 days. According to Sherman, Trump’s decision to delay the enforcement is illegal. Furthermore, he has previously campaigned against cryptocurrencies, advocating for a total ban.
The escalating situation surrounding TikTok and the allegations regarding TRUMP memecoin highlights complex political ties between tech platforms and U.S. politics, raising questions about the legality of the decisions made.
