- TikTok has officially denied an allegation from Rep. Brad Sherman that it bought TRUMP coins.
- The Congressman claimed a $300M purchase was a bribe to extend TikTok’s US deadline.
- The claim appears to confuse TikTok with a separate firm, GD Culture Group.
Social media platform TikTok has officially denied an allegation from U.S. Congressman Brad Sherman that the company was involved in a $300 million purchase of the TRUMP memecoin.
The official TikTok Policy X account posted a response describing the claim, which the Congressman framed as a bribe to President Donald Trump, as “patently false and irresponsible.”
The public dispute between the lawmaker and the tech company erupted after President Trump signed a third executive order extending the deadline for TikTok’s U.S. divestiture to September 17, 2025.
Related: Trump Prioritizes Resolving China Trade Spat Before Finalizing TikTok Deal
Sherman Alleges ‘Bribe’ After Deadline Extension
Congressman Sherman (D-CA) argued that the law allows the President to extend TikTok’s operation in the US only once. The Congressman claimed that Trump’s failure to ban the Chinese social media company is illegal. Sherman further accused the President of receiving a bribe from TikTok, alleging that the President creates Trump Coins at no cost, which qualifies the acclaimed $300 million TRUMP purchase by TikTok as a bribe.
It is worth noting that the latest extension marks the third postponement of TikTok’s deadline to leave the US. Online reports claim that it is an opportunity offered to the Chinese firm to find a local buyer to take over the company or face a ban in the US.
Allegation Traced to a Different Company
Sherman’s allegation referred to a planned Trump Coin purchase by GD Culture Group, a Nasdaq-listed entity with no formal links with TikTok.
Related: Meme Coin Promotion Shifts to TikTok as CHILLGUY Goes Viral
Although the firm produces AI-enhanced content on TikTok, there are no official connections between its planned TRUMP purchase and the Chinese social media giant.
Sherman’s allegation raised mixed reactions among members of the public. Many X users refuted the Congressman’s claims, expressing doubts about being able to create cryptocurrency at no cost.
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