‘Patently false and irresponsible’: TikTok slams Rep. Sherman over $300 million Trump memecoin accusation

Description

TikTok pushed back against accusations from Rep. Brad Sherman, D-Calif., that its owners were buying $300 million worth of memecoins as a "bribe" in reference to its looming U.S. ban.

Publish date

June 20, 2025

Publisher

The Block

Web URL

https://www.theblock.co/post/359005/tiktok-slams-congressman-sherman-300-million-trump-memecoin-accusation

Referenced by

TikTok denies $300M Trump Coin purchase

Crypto news

News story

In May, Nasdaq-listed GD Culture Group said it had signed a stock purchase agreement with a British Virgin Islands-based investor to sell up to $300 million worth of shares as part of its crypto treasury strategy, which includes buying bitcoin and the Official Trump memecoin.

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Quote

TikTok slammed accusations from Rep. Brad Sherman that its owners were buying $300 million worth of TRUMP memecoins

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