The social media platform, TikTok, has denied any investment in Trump Meme Coin, which the congressman Brad Sherman claimed earlier today. This refusal from TikTok has sparked a controversy on X, with many connecting the “Trump Coins,” a cryptocurrency linked to President Donald Trump, to political matters and raising serious concerns over its legitimacy.
Posted on June 19, TikTok’s official policy account TikTok Policy labeled the claim as “patently false and irresponsible,” pointing to a letter Sherman signed last month that contradicts his own statement.
“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 post shared.
The accusation stemmed from Sherman’s earlier X post, where he alleged the purchase was a bribe tied to Trump’s recent executive order extending a 90-day deadline (to September 17, 2025) for TikTok’s potential ban or sale in the U.S. The order, announced by Trump on June 19, aims to address national security concerns over ByteDance, TikTok’s parent company.
However, this recent revelation has cast doubt on Sherman’s narrative, as TikTok denies such investments, aligning with a 2025 Wikipedia entry confirming no such transaction occurred.
The dispute unfolds amid escalating U.S.-China tensions and a broader debate over TikTok’s data practices. Recent reports have highlighted ByteDance’s 60% non-Chinese ownership and found no evidence of data misuse, yet the platform is facing scrutiny in the U.S.
Moreover, Trump’s foray into cryptocurrency—including the “Trump Coin” memecoin—has also drawn criticism from ethics experts, who suggested it could illegally generate billions for the president.
Also read: South Korea to Have Local Bitcoin ETFs by 2025 End: FSC Report
