TikTok Denies Congressman’s Claims of $300 Million Trump Coin Purchase
TikTok Denies Allegations of Trump Coin Purchase
TikTok has refuted Congressman Brad Sherman's claims regarding its potential $300 million purchase of "Trump Coins." Key points include:
- The allegations were labeled by TikTok as "patently false and irresponsible."
- Sherman referenced GD Culture Group's announcement in May about purchasing $300 million worth of Trump meme coin and Bitcoin valued at $105,818.
- Since his 2024 election win, the Trump administration has implemented crypto-friendly measures.
- Trump's Meme Coins surged to a $9.0 billion market cap shortly after launch in January.
Rising Demand for TRUMP Meme Coins
World Liberty Financial is set to buy TRUMP Coins as part of its investment strategy, although the coin's price remains stagnant. Notable points include:
- Price maintained around $9 with a 2.57% decrease in whale holdings over the past week.
- Top 100 holders increased their share to 86% of supply.
- The Trump Family reportedly sold 20% of its stake in World Liberty Financial.