Recent statements from TikTok’s official account on X have strongly refuted claims that its Chinese parent company is investing $300 million in the Official Trump (TRUMP) memecoin. According to the platform, these assertions are simply untrue.
In their post, TikTok emphasized that such allegations are “completely unfounded and irresponsible.” They also highlighted inconsistencies between the assertion and a letter signed by Representative Brad Sherman just last month.
Delays in Executive Orders Prompt Questions
This spring, U.S. President Donald Trump issued his third executive order, further extending the timeline for either banning or forcing the sale of TikTok by an additional 90 days. This extension allows TikTok more time to secure a buyer to avert a complete ban in the United States.
This move has led to speculation about potential political repercussions, with many speculating if TikTok’s political influence is causing these delays. Some have drawn attention to Sherman’s comments, noting that he made his statement following the announcement of the new extension.
TikTok’s assertion that the claim regarding our supposed investment in “Trump Coins” is entirely inaccurate raises concerns about accountability.
— TikTok Policy (@TikTokPolicy) June 19, 2025
GD Culture Group’s SEC Filing Fuels Speculation
Reports surrounding an SEC filing revealed that GD Culture Group—a small Nasdaq-listed entity without any known connections to ByteDance—has announced plans to purchase up to $300 million in Trump memecoin and Bitcoin.
Although GD Culture produces AI-based videos for TikTok, it operates independently and shares no common board members with ByteDance. This separation has triggered confusion, leading the public to insinuate that TikTok might be funding the memecoin acquisition.
Criticism from Sherman
Representative Sherman remarked, “Trump is generating ‘Trump Coins’ at zero cost, which amounts to a $300 million payout directly into his pocket.”
A long-time advocate against cryptocurrency, Sherman continues to express concerns that digital currencies could undermine the US dollar. His recent statements reflect a mix of caution regarding TikTok’s Chinese ownership and significant skepticism about the cryptocurrency sector.
Mixed Reactions on Social Media
Online reactions have been varied, with some users expressing doubt over TikTok’s denial, questioning the depth of Chinese influence. Conversely, many have criticized Sherman, labeling his anti-crypto arguments and push for a TikTok ban as unwarranted.
“The only ones wanting TikTok banned are special interests,” one user commented, further stirring the debate.
Intersection of Politics, Crypto, and Social Media
In a matter of days, a simple SEC filing and a congressional statement created a complex narrative:
On one hand, there’s a popular social media platform striving to maintain its presence in the U.S. market.
On the other, there’s a legislator cautioning about foreign influence and cryptocurrency risks.
Image sourced from Unsplash, data visual from TradingView
