In keeping with TikTok’s Coverage account on X, claims that its Chinese language house owners are snapping up $300 million price of the Official Trump (TRUMP) memecoin are flat-out improper.
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The put up known as the thought “patently false and irresponsible.” It even identified that the declare didn’t match a letter Rep. Brad Sherman signed final month.
Exec Order Delay Raises Eyebrows
US President Donald Trump signed his third govt order this spring, pushing again a ban or pressured sale of TikTok by one other 90 days. That transfer gave TikTok roughly three extra months to discover a purchaser or face an outright ban within the US.
Many individuals questioned if TikTok’s political sway was a part of the maintain‑up. Some considered Sherman’s timing as no accident—he spoke out simply after the third delay was introduced.
Congressman, claiming that the house owners of TikTok are shopping for “Trump Cash” is patently false and irresponsible and doesn’t even precisely mirror a letter you signed final month. https://t.co/8uxxPrKlzP
— TikTok Coverage (@TikTokPolicy) June 19, 2025
US Rep. Brad Sherman. Supply: Allison Robbert/The Hill
GD Tradition Group Connection Sparks Doubts
Based mostly on reviews of an SEC submitting, GD Tradition Group—a tiny, Nasdaq‑listed agency with no recognized ties to ByteDance—stated it might purchase as a lot as $300 million in Trump memecoin and Bitcoin.
GD Tradition creates AI‑pushed movies for TikTok, but it surely isn’t owned by ByteDance and has no board members in frequent. That blend‑and‑match hyperlink set off a wave of confusion, main some to imagine TikTok itself was funding the memecoin buy.
Sherman’s Crypto Critique
In keeping with Sherman, “Trump creates ‘Trump Cash’ without charge, that means that is only a $300 million bribe that goes proper into his pocket.”
Sherman has lengthy argued for a blanket ban on crypto.
Again in 2019, he warned that cryptocurrencies might displace the US greenback. His newest feedback combine his fear about TikTok’s Chinese language possession along with his deep mistrust of the crypto world.
On-line Response Divides Viewers
Some on-line customers doubted TikTok’s denial, questioning if China’s affect was deeper than we all know. Others piled on Sherman, criticizing his anti‑crypto stance and even his name to ban TikTok.
“Nobody needs TikTok banned, besides the Israeli foyer, aka your puppet masters,” one commentator wrote, including gas to the fireplace.
Politics, Crypto And Social Media Entangle
In lower than per week, a single SEC kind and a congressional tweet changed into a full‑blown spectacle:
On one facet, we have now a social platform preventing to remain within the US market.
On the opposite, a lawmaker warning about overseas affect and digital cash.
Featured picture from Unsplash, chart from TradingView
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