TikTok Denies Claims of Buying $300M in TRUMP Meme Coin Amid Political Scrutiny

TikTok has publicly denied allegations that its Chinese parent company purchased $300 million worth of TRUMP, the meme coin linked to former President Donald Trump. The platform dismissed the claims as "patently false and irresponsible" in a statement on X.

The controversy arose after U.S. Representative Brad Sherman suggested the investment was tied to GD Culture Group. TikTok refuted his remarks, highlighting inconsistencies and misrepresentations in his statements.

The denial comes as TikTok faces increased political scrutiny over its Chinese ownership. Former President Trump recently granted the app a third 90-day extension to secure a U.S. buyer. Critics have questioned both the plausibility of the alleged crypto transaction and Sherman's broader stance on digital assets.