The TikTok case and the political controversy surrounding cryptocurrency Strong response from TikTok regarding the allegation of purchasing $TRUMP Tokens worth 300 million USD
In an official statement, TikTok denied allegations that the platform or its Chinese parent company used a secret investment to support former president Donald Trump by purchasing $TRUMP Tokens. These allegations stemmed from sources suggesting that TikTok spent up to 300 million USD to buy a large quantity of these Tokens to promote Trump's political campaign.
However, TikTok claimed that this allegation is "completely false and irresponsible," denying any large-scale or politically motivated investment actions. The company asserted that these are misunderstandings regarding the content of the letter signed by Congressman Brad Sherman a month ago.
Politics and new regulations regarding TikTok in the United States
New executive order from President Trump sparks controversy
In the context of reports indicating that Trump signed a new executive order to delay the ban or sale of TikTok, September 17, 2025, is officially the deadline for TikTok to seek a buyer or face a ban in the United States. This is the third delay, allowing the platform an additional 90 days to adapt.
Mr. Donald Trump stated that he signed the extension of this deadline, expressing gratitude for the company's efforts in addressing the issue, while affirming that this recent extension of 90 days is necessary to ensure national security.
Mixed reactions and opinions on U.S. federal law
However, Mr. Sherman opposed this decision, arguing that federal law only allows for a single extension and that Trump's failure to enforce the ban is a violation of the law. At the same time, he referred to the investments of GD Culture Group – a company linked to TikTok, which had intended to purchase $TRUMP Tokens worth 300 million USD and Bitcoin in May.
Meanwhile, Senate official Mark Warner assessed that Trump's action is merely a legal evasion through the issuance of an executive order, without actually adhering to national security regulations. He warned that the Trump administration has ignored reports of threats from TikTok due to Chinese control.
Cryptocurrency and the debate over global power
Warning about the cryptocurrency ban in the United States
In the context of controversy, Mr. Sherman did not hesitate to emphasize the threat posed by cryptocurrencies, especially their potential to replace the USD as the primary currency in the global financial system. He argued that eliminating U.S. fiat money or undermining the strength of the dollar would have serious consequences for the country's influence in the international market.
He expressed concern that cryptocurrencies, being unregulated by any nation, could undermine U.S. economic sanctions against Iran or other sanctioned countries. This raises significant questions about financial security and the ability to control cross-border transactions using decentralized digital currencies.
Diverging views on cryptocurrency and the role of the United States
Policy support for stablecoins and its impact on the USD's position
While lawmakers like Sherman call for a widespread ban on cryptocurrencies to protect the national financial system, the Trump administration has a policy supporting stablecoins – a type of cryptocurrency linked to the USD to bolster the position of the U.S. domestic currency in the global market. This reflects differences in approaches to digital financial strategies of U.S. administrations over time.
With tight control through the Federal Reserve Bank of New York, the USD continues to maintain its position as the standard international payment unit. However, the shift towards decentralized cryptocurrencies also poses a major challenge to maintaining this advantage, especially as countries use this as a reason to lessen U.S. influence in global financial activities.
Source: https://tintucbitcoin.com/tiktok-phu-nhan-mua-meme-coin-trump/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news on the cryptocurrency market and not miss any important information!
