TikTok Denies Buying 300 Million USD Meme Coin TRUMP

The social media platform TikTok has denied any investment in Trump Meme Coin, which Congressman Brad Sherman claimed earlier today. This denial from TikTok has sparked a controversy on X, with many linking "Trump Coins," a type of cryptocurrency related to President Donald Trump, to political issues and raising serious concerns about its legality. Posted on June 19, TikTok's official policy account labeled this complaint as "entirely false and irresponsible," pointing to a letter that Sherman signed last month contradicting his own statement.

Post shared: "It is completely false and irresponsible for the congressman to declare that the owner of TikTok is buying 'Trump Coin', and it does not even accurately reflect the letter he signed last month." The accusation stems from Sherman's earlier post on X, in which he alleged that this purchase deal was a bribe related to Trump's recent executive order extending the deadline of 90 days ( to September 17, 2025) for TikTok to be banned or sold in the United States. This order, announced by Trump on June 19, aims to address national security concerns regarding ByteDance, the parent company of TikTok. However, this recent disclosure has raised doubts about Sherman's story, as TikTok denies such investments, consistent with the 2025 Wikipedia entry confirming that no such transactions occurred. The dispute occurs against the backdrop of escalating US-China tensions and the broader debate over TikTok's data practices. Recent reports have highlighted that 60% of ByteDance's ownership is not Chinese and found no evidence of data misuse; however, the platform is facing increased scrutiny in the United States. Moreover, Trump's involvement in cryptocurrency, including the memecoin "Trump Coin," has also faced criticism from ethics experts, who argue that it could generate billions of dollars illegally for the president.