- A California Democrat argued that Trump’s latest extension violates U.S. law.
- Online reactions were divided, with some doubting the claims and others skeptical of TikTok.
TikTok has denied claims that its owners are buying a
cryptocurrency linked to former US President Donald Trump. The denial came from
the official TikTok Policy account in response to statements by
Representative Brad Sherman.
Sherman, a Democrat from California, said the “Chinese
owners of TikTok have announced they are buying ‘Trump Coins’ for $300
million.” TikTok called the statement false and misleading.
“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 platform responded on X.
Trump Delays TikTok Ban Again
The allegations came as the Trump administration delayed
enforcement of a ban or forced sale of TikTok. It was the third such delay,
extending the deadline by another 90 days.
🚨 TikTok denies buying $300M of $TRUMP memecoin amid Congressman Brad Sherman’s accusations.
TikTok Policy calls the claims “patently false” and “irresponsible.”Sherman says Trump accepted a bribe; TikTok and others push back. pic.twitter.com/D2fKYEZy99
— CryptoPotato Official (@Crypto_Potato) June 20, 2025
Sherman said only one extension is allowed under US law and
called the latest order illegal. Sherman’s claims appeared to link TikTok to GD Culture
Group, a Nasdaq-listed company that produces AI-driven content on TikTok. In
May, GD Culture announced plans to invest $300 million in Trump memecoin and
Bitcoin . However, GD Culture is not formally affiliated with TikTok or its
parent company, ByteDance.
