TikTok denies buying Trump Coins amid allegations from Congressman Brad Sherman

From Coin Telegraph
June 20, 2025 04:58 AM:

Chinese social media platform TikTok denied allegations of purchasing US President Donald Trump’s official memecoin, responding to claims made by California Democratic Party Representative Brad Sherman. Sherman accused TikTok’s Chinese owners of buying ‘Trump Coins’ for $300 million, amidst news of Trump signing an executive order to delay the ban or sale of TikTok for the third time, giving the platform another 90 days to find a buyer or face a ban in the US. Sherman criticized Trump’s failure to enforce the ban against TikTok as illegal, citing reports of TikTok-connected GD Culture Group planning to buy $300 million of Trump memecoin and Bitcoin in May. Some online commentators doubted TikTok’s denial but refuted Sherman’s allegations, calling them untrustworthy and questioning the feasibility of creating a cryptocurrency at no cost. Sherman, known for his anti-crypto stance, has previously called for a blanket ban on cryptocurrencies, citing concerns over their potential to displace the US dollar. The Trump administration, on the other hand, has pledged to promote US dollar-pegged stablecoins to strengthen the US dollar’s sovereignty.

Read more at Cointelegraph: TikTok Denies Trump Coin Buys To Congressman Brad Sherman