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TikTok Denies Purchase of Trump Memecoin Worth US$300 Million
TikTok has denied Brad Sherman's anti-Bitcoin statement claiming that the Chinese social media platform has bought President Donald Trump's memecoin worth US$300 million.
"The owner of TikTok from China has announced that they bought "Trump Coins" for US$300 million. Trump created "Trump Coins" at no cost, which means this is just a bribe of US$300 million going into his pocket," said Sherman on his personal X account, Friday (20/06).
Sherman stated that Trump failed because he signed an executive order that would give TikTok 90 days to find a U.S.-based partner. The congressman called the president's action illegal because it does not comply with the law.
"Congress members claim that the statement that TikTok owners bought 'Trump Coin' is false and irresponsible, and even inconsistent with the letter you signed last month," said TikTok via its X account in response to Sherman's tweet.