TikTok has refuted claims that it is purchasing the Official Trump (TRUMP) memecoin for $300 million, following accusations from California Democratic Representative Brad Sherman. The TikTok Policy account stated that Sherman's assertion about the platform's Chinese owners buying 'Trump Coins' is false and misleading. This denial comes as Trump signed an executive order delaying the potential ban or sale of TikTok, marking the third extension and providing the platform an additional 90 days to secure a buyer. Sherman argued that US laws permit only one extension and criticized Trump for not enforcing the ban. His allegations stemmed from reports about GD Culture Group, which has no formal ties to TikTok, planning to invest in Trump memecoin and Bitcoin. While some commentators questioned TikTok's denial, others dismissed Sherman's claims as untrustworthy. Sherman has a history of opposing cryptocurrencies, advocating for a ban in 2019, contrasting with the Trump administration's supportive stance on crypto. Read more AI-generated news on: https://app.chaingpt.org/news

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