TikTok Denies $300M Trump Memecoin Purchase Amid Political Scrutiny

Published: 2025-06-20 09:31:59 |

TikTok has officially denied claims that its owner bought $300 million of the Official Trump memecoin. In a statement on X, TikTok Policy labeled the allegations “completely false and irresponsible,” stressing no formal ties exist between TikTok, ByteDance and the linked firm GD Culture Group. Congressman Brad Sherman made the accusation alongside criticism of a delayed U.S. ban on the app, calling the purchase a “bribe” to former President Trump. Despite reports of GD Culture Group planning to buy TRUMP memecoin and Bitcoin (BTC), traders should note there is no confirmed transaction affecting market supply or demand. This dispute underscores ongoing political and regulatory scrutiny around social media platforms and memecoins.

Neutral

The denial of the $300 million TRUMP memecoin purchase removes any direct impact on the TRUMP token’s supply or demand. Without confirmed transactions or exchange listings tied to TikTok or ByteDance, trader sentiment remains unchanged. Political allegations may fuel short-term volatility, but lack of concrete market action points to a neutral outlook. Long-term effects are unlikely unless new evidence of large-scale memecoin transactions emerges.