TikTok Responds to Accusations from Rep. Brad Sherman
TikTok is pushing back hard against allegations that it is behind a $300 million purchase of Donald Trump’s official TRUMP memecoin, calling the claims “false and irresponsible.”
The controversy erupted when Congressman Brad Sherman, a longtime crypto critic, claimed on social media that the Chinese owners of TikTok were buying Trump Coins as a form of political bribery.
In response, TikTok’s official Policy account on X refuted the accusation directly:
“Congressman, claiming that the owners of TikTok are buying ‘Trump Coins’ is patently false and irresponsible and doesn’t even accurately reflect a letter you signed last month.”
Confusion Over GD Culture Group
Sherman’s accusations appear to stem from GD Culture Group, a Nasdaq-listed company that announced plans to buy $300 million worth of TRUMP tokens and Bitcoin in May 2025.
Although GD Culture produces AI-powered content distributed via TikTok, it has no known corporate ties to ByteDance, TikTok’s Chinese parent firm. This has created confusion in public discourse, fueling unfounded speculation about TikTok’s involvement.
Executive Orders and TikTok Ban Delay
Sherman’s criticism comes in the wake of President Trump’s executive order to delay TikTok’s ban or forced sale in the U.S. — the third such postponement, giving TikTok an additional 90 days to find a buyer.
Sherman argued that Trump’s delay is illegal, claiming that U.S. law only permits one extension. He went further, alleging that the memecoin purchases constitute a “$300 million bribe” directed into Trump’s personal pockets.
Crypto Community Pushes Back
While some commentators expressed skepticism, many in the crypto community dismissed Sherman’s claims as misleading or conspiratorial:
- Some pointed out that creating a token does not automatically result in a direct personal gain.
- Others questioned Sherman’s motives, suggesting political or lobbying pressure may be at play.
Sherman has a history of anti-crypto rhetoric, having called for a complete crypto ban in 2019, and regularly voices concern that cryptocurrencies could undermine the U.S. dollar.
Final Thoughts
The incident highlights the growing tension between crypto, politics, and misinformation, especially as memecoins and digital assets gain traction in mainstream and political circles. While TikTok firmly denies any involvement, regulatory scrutiny and political friction around digital assets are unlikely to disappear anytime soon.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.