TikTok Denies Involvement in Alleged $300 Million Trump Coin Investment
Highlights:
- TikTok has denied claims that its parent company planned to invest in TRUMP coins.
- Brad Sherman noted that the $300 million crypto plan is a bribe linked to Trump’s extension of TikTok’s US deadline.
- Trump earned $58 million from crypto in 2024 and may gain more from future token sales and Bitcoin projects.
TikTok has rejected claims that its owners are planning to invest $300 million in Trump coins and Bitcoin. The company responded after Representative Brad Sherman accused the platform’s Chinese parent company of using crypto to influence former President Donald Trump. On Thursday, TikTok’s official policy account posted a statement on X, calling the accusations “false and irresponsible.” The statement also noted that Sherman’s comments did not align with a letter he signed the previous month.
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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. https://t.co/8uxxPrKlzP
— TikTok Policy (@TikTokPolicy) June 19, 2025
Sherman’s allegations followed Trump’s decision to sign another executive order delaying action on TikTok. The decision gave TikTok another 90 days to secure a buyer in the country. This was the third delay of such kind, and according to Sherman, it was more than the law provides. He implied that this extension was paid off with investment in TRUMP coin as bribery to Trump.
— Trump War Room (@TrumpWarRoom) June 19, 2025
TikTok explained that the allegations by Sherman were ill-informed and that it had no foundation to associate their corporate parent, ByteDance, with the crypto acquisitions. The social media platform explained that it was not financially connected with GD Culture Group, the company that staged the $300 million plan in cryptocurrency. Although GD Culture shares AI-driven content on TikTok, it operates independently and is not owned by ByteDance.
Congressman Accuses TikTok of Using the Trump Coins to Influence the President
Sherman tied the alleged crypto investment to GD Culture Group, a Nasdaq-listed firm that works in artificial intelligence and content creation. In May, the company announced plans to invest in TRUMP coins and Bitcoin. Sherman claimed this was a direct benefit to Trump, saying the coin was created without cost, allowing funds to go straight into Trump’s pocket. He described the move as a “$300 million bribe” aimed at influencing U.S. policy on TikTok.
He also argued that the decision by the president to issue a third extension violated U.S. law. According to Sherman, only one extension is allowed, and the executive order marked an illegal move. Moreover, he used the timing of the crypto investment and the extension to support his argument.
Although GD Culture does use TikTok to distribute content, the two firms are not directly connected. TikTok strongly rejected its role in the financial affairs of the company. ByteDance also has not been shown to have made any purchases of digital assets. The allegations relied on speculation rather than verified financial links.
Crypto Activity Sparks Scrutiny Around Trump’s Financial Gains
Recent financial records show that Trump earned $58 million from crypto ventures in 2024. Most of this income came from sales of the WLFI token. These earnings were second only to his hospitality business income. Projections for 2025 suggest even larger gains, including $390 million from future token sales.
In addition, Trump Media and Technology Group received approval for a filing linked to a $2.3 billion Bitcoin project. The registration included 85 million shares, with 29 million connected to convertible notes. Trump has also supported stablecoins, viewing them as a way to strengthen the U.S. dollar. Meanwhile, Sherman has maintained his long-standing opposition to digital assets, mostly coins tied to Trump.
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Austin Mwendia
Austin Mwendia is a passionate crypto journalist with three years of experience. He has contributed to various media outlets, covering blockchain technology, market analysis, and financial trends. He is committed to educating readers and expanding the adoption of blockchain and decentralized finance.
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