TikTok has rejected claims made by a US lawmaker that its Chinese language homeowners are shopping for a meme coin tied to President Donald Trump.
On June 18, the official TikTok Coverage account responded to a publish on X by Consultant Brad Sherman, who had mentioned the corporate’s homeowners had been planning to spend $300 million on the Official Trump (TRUMP) token.
TikTok wrote, “Congressman, claiming that the homeowners of TikTok are shopping for ‘Trump Cash’ is patently false and irresponsible and doesn’t even precisely mirror a letter you signed final month”.
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The corporate dismissed the assertion as incorrect and deceptive.
Sherman’s accusation got here as President Trump accredited a brand new 90-day extension that delays a potential ban on TikTok within the US.
He argued that US legislation permits just one extension and said that the continued delays aren’t legally legitimate. Moreover, Sherman mentioned within the publish, “Trump creates ‘Trump Cash’ for gratis, which means that is only a $300 million bribe that goes proper into his pocket”.
The $300 million determine appears to come back from a separate firm referred to as GD Tradition Group. In Could, GD Tradition mentioned it deliberate to speculate that quantity into Bitcoin
$103,191.57
and the TRUMP token. Nevertheless, the corporate doesn’t have any confirmed enterprise connection to TikTok or its mother or father firm, ByteDance.
In the meantime, Home Speaker Mike Johnson lately commented on President Trump’s non-public dinner for TRUMP token holders. What did he say? Learn the total story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Struggle II period.With near a decade of expertise within the FinTech trade, Aaron understands all the largest points and struggles that crypto fanatics face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and trade newcomers.Aaron is the go-to particular person for the whole lot and something associated to digital currencies. With an enormous ardour for blockchain & Web3 schooling, Aaron strives to remodel the area as we all know it, and make it extra approachable to finish novices.Aaron has been quoted by a number of established shops, and is a broadcast writer himself. Even throughout his free time, he enjoys researching the market tendencies, and on the lookout for the following supernova.
