Tiktok has publicly rejected the claims that its Chinese owners buy “Trump coins”, the official piece of the same linked to President Donald Trump.
The main dishes to remember:
- Tiktok has denied charges that his owners buy the official memes piece of Trump.
- The representative Brad Sherman called for a 300 million dollars Trump currency bound to Tiktok, citing GD Culture Group.
- Critics have questioned the claims of Sherman’s cryptography and logic behind the presumed investment of the coin.
The official political account of the social media platform discussed the controversy Thursday thanks to an article on X, calling on the “obviously false and irresponsible” charges.
The remarks came in response to the statements of the Californian Democrat Brad Sherman, who alleged that the parent company of Tiktok had planned to buy $ 300 million in the same Trump (Trump).
“The Congress member, saying that Tiktok owners buy” Trump Coins “do not even precisely reflect a letter that you signed last month,” said the platform, highlighting the inconsistencies in Sherman’s comments.
Trump grants a third Tiktok extension in the middle of growing political tensions
The allegations emerged shortly after Trump signed an executive decree granting Tiktok an extension of 90 days to find an American buyer, marking the third delay of this type in the current dead end on the national security problems linked to the Chinese property of the application.
Sherman, vocal critic of Tiktok and cryptocurrencies, cited reports involving GD Culture Group, a company listed at the NASDAQ which produces content focused on Tiktok.
The company would have announced its intention to invest $ 300 million in Trump and Bitcoin. Despite his presence on the platform, GD Culture has no official link with Tiktok or his parent company Bytedance.
Sherman characterized the investment of the room even as a “300 million dollars” bribe “to Trump, saying that the room was created” at no cost “.
Critics quickly challenged both the legal basis of its allegations linked to Tiktok and the economic logic behind the remarks of the memes play.
The online backlash was fast. Some users have questioned Sherman’s credibility and accused him of having pushed political accounts.
Others question the feasibility of creating a cryptocurrency without incurring development or liquidity costs.
Sherman has long campaigned against the cryptography sector, after calling for a total ban on digital assets.
On the other hand, Trump and his allies recently adopted the crypto, pleading for stablecoins as tools to strengthen the global position of the US dollar.
Trump continues to capitalize on the momentum of the cryptography market
Meanwhile, Donald Trump continues to capitalize on the momentum of the cryptography market.
According to financial disclosure published last Friday, the former president drew $ 58 million from crypto ventures in 2024, mainly thanks to sales of WLFI tokens.
This total only dragged its hotel income and should climb more in 2025 with a sale of token and planned gains of $ 390 million, launched in January.
Its involvement in Bitcoin exploitation, tokenized assets and digital FNB raises concerns concerning conflicts of potential interests.
Critics have stressed that some of its companies have seen tail winds from favorable political decisions during their mandate.
As indicated, the SEC has approved the Trump Media and Technology Group (TMTG) registration declaration linked to a Bitcoin Treasury initiative of $ 2.3 billion.
The June 13 file covers 85 million shares, including 29 million convertible tickets.
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