TLDR
TikTok rejects bribery claims, calling them “patently false” after Rep. Sherman’s $300M accusation.
Misunderstanding links Sherman’s claim to GD Culture Group, not TikTok.
GD Culture, not TikTok, plans a $300M memecoin investment.
TikTok’s parent, ByteDance, has no ties to the TRUMP memecoin deal.
TikTok has responded strongly to accusations from Rep. Brad Sherman, D-Calif., who claimed that the social media platform’s owners were using a $300 million purchase of TRUMP memecoins as a bribe to influence President Trump over its looming U.S. ban. The accusations were made by Sherman on social media and have since been debunked by TikTok, which clarified that the allegation was based on a misunderstanding.
Sherman’s Bribery Allegation
Rep. Sherman took to X (formerly Twitter) on Thursday, where he posted a message accusing TikTok’s Chinese parent company of engaging in a financial deal to bribe former President Donald Trump.
According to Sherman, TikTok’s owners were allegedly purchasing $300 million worth of TRUMP memecoins to sway Trump’s decision on TikTok’s U.S. operations. He linked this to the recent extension granted to TikTok’s U.S. operations deadline, which was pushed to September 2025.
Sherman’s accusation specifically mentioned that Trump creates these coins at no cost, suggesting that the $300 million was essentially a direct bribe, benefiting Trump personally. “Trump creates ‘Trump Coins’ at no cost, meaning this is just a $300 million bribe that goes right into his pocket,” Sherman wrote.
TikTok’s Rejection of the Allegations
TikTok was quick to respond to the claim, labeling it as “patently false and irresponsible.” The official TikTok policy account on X issued a statement, denying the bribery accusations and pointing out that Sherman’s claims were inaccurate.
The statement emphasized that the congressman’s accusation did not align with a letter he had signed the previous month, which apparently contradicts his public statements.
“Congressman, claiming that the owners of TikTok are buying ‘Trump Coins’ is patently false and irresponsible,” TikTok’s U.S.-affiliated official account wrote. This response underscores TikTok’s position in rejecting any connection to the alleged purchase of the memecoins or the suggestion of bribery.
Misunderstanding Tied to GD Culture Group
The misunderstanding behind Sherman’s accusations seems to stem from a separate company, GD Culture Group, which has been linked to the cryptocurrency and memecoin investment sector.
In May 2025, GD Culture, a Nevada-based company, announced plans to invest up to $300 million in various cryptocurrencies, including the TRUMP memecoin.
Despite GD Culture’s operations involving TikTok-related content, it is not owned by ByteDance, the Chinese company that owns TikTok. GD Culture has a subsidiary in China, but it operates independently of ByteDance. The company’s business dealings with cryptocurrency, including the purchase of TRUMP memecoins, are entirely separate from TikTok’s operations.
Clarifying the Connection to TikTok
Although GD Culture Group has launched a TikTok account (@streamlineainews) to promote updates and insights related to AI and digital media, it is not a part of ByteDance. This distinction is crucial in understanding why Sherman’s accusation is unfounded.
While TikTok is indeed a significant player in the digital and social media space, its parent company, ByteDance, does not appear to be involved in any cryptocurrency transactions related to TRUMP memecoins.
As of now, there is no credible evidence linking ByteDance or TikTok directly to the $300 million investment in TRUMP memecoins. The confusion appears to have arisen from the business activities of GD Culture, which has a separate focus on content creation and digital commerce, notably in the TikTok ecosystem.
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