TikTok has denied allegations that it purchased US President Donald Trump's official memecoin, following accusations from Congressman Brad Sherman. Sherman claimed that TikTok's owners announced a $300 million buy of 'Trump Coins,' which TikTok refuted as false and irresponsible. The statement was made via TikTok's official policy account in response to Sherman's claims. Sherman's remarks coincided with news of Trump delaying a ban on TikTok, marking a third postponement that allows TikTok 90 more days to find a buyer. While Sherman criticized Trump for failing to enforce the TikTok ban, many commentators expressed skepticism towards Sherman's allegations, labeling them untrustworthy. TikTok faces ongoing scrutiny amid discussions of its ownership and its operations, and Sherman is known for his anti-crypto stance, contrasting with the Trump administration's pro-crypto policies.

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