TikTok has rejected claims made by a US lawmaker that its Chinese language house owners 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 stated the corporate’s house owners have been planning to spend $300 million on the Official Trump (TRUMP) token.
TikTok wrote, “Congressman, claiming that the house owners of TikTok are shopping for ‘Trump Cash’ is patently false and irresponsible and doesn’t even precisely replicate 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 attainable ban on TikTok within the US.
He argued that US regulation permits just one extension and acknowledged that the continued delays usually are not legally legitimate. Moreover, Sherman stated within the publish, “Trump creates ‘Trump Cash’ for gratis, that means that is only a $300 million bribe that goes proper into his pocket”.
The $300 million determine appears to return from a separate firm referred to as GD Tradition Group. In Could, GD Tradition stated it deliberate to speculate that quantity into Bitcoin
$102,980.15
and the TRUMP token. Nevertheless, the corporate doesn’t have any confirmed enterprise connection to TikTok or its father or mother firm, ByteDance.
In the meantime, Home Speaker Mike Johnson not too long ago 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 Battle II period.With near a decade of expertise within the FinTech business, Aaron understands all the largest points and struggles that crypto lovers 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 business newcomers.Aaron is the go-to individual for every little thing and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to rework the area as we all know it, and make it extra approachable to finish learners.Aaron has been quoted by a number of established retailers, and is a broadcast writer himself. Even throughout his free time, he enjoys researching the market developments, and searching for the following supernova.
