Recently, TikTok publicly responded and denied the serious accusations made by U.S. Congressman Brad Sherman. The congressman previously claimed that TikTok's Chinese owner spent $300 million to purchase the Trump-themed Crypto Assets Meme coin and suggested that this action could constitute a form of bribery towards Trump.

TikTok firmly stated that these allegations are "completely false and extremely irresponsible," and pointed out that Sherman had significant inaccuracies when citing previous communications.

The incident occurred against the backdrop of Trump’s third extension of the deadline for the sale of TikTok’s business in the United States. Sherman questioned this, arguing that Trump’s repeated extensions have exceeded the legal authority, as the relevant regulations clearly state that only one extension is permitted. Currently, TikTok has about 170 million users in the U.S., while facing ongoing regulatory pressure.

It is worth noting that market data shows that after these news items were released, the price of Trump coin has performed poorly, dropping about 35% in the past month, with the current trading price being approximately $9.37.

Regarding the source of Sherman's accusations, industry analysts believe it may be related to news of a Chinese company associated with TikTok announcing plans to purchase Bitcoin and Trump Coin. However, TikTok has explicitly denied that the company is involved in any such trading activities.