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- 💥 Gate Square Event: #PostToWinPIGGY 💥
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📅 Event Period: Oct 30, 2025, 10:00 – Nov 6, 2025, 16:00 (UTC)
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Launchpool 👉 https://www.gate.com/announcements/article/47886
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🥇 1st Prize (1 winners): 40 PI - 🚀 Gate Square Creator Certification Incentive Program Is Live!
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Click to apply now 👉 - 📈 Market Insights Weekly: Weekly Forecast Challenge
This Week’s Theme: #WillBTCHit120K
📅 Event Period: Oct 28 – Nov 2, 24:00 (UTC+8)
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2️⃣ Content must be at least 80 words.
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4️⃣ Include a screenshot s
TikTok responds to Congressman Sherman’s accusations, denying spending $300 million to purchase TRUMP.
According to Gate News bot, Cointelegraph reports that the Chinese social media platform TikTok has denied claims regarding its purchase of the official meme coin TRUMP of US President Donald Trump, in response to accusations from California Democratic Congressman Brad Sherman.
Sherman claimed, “The Chinese owner of TikTok has announced plans to spend $300 million to purchase ‘TRUMP.’” TikTok’s Policy department responded to these claims by stating, “Congressman, the assertion that TikTok’s owner is buying ‘TRUMP’ is clearly false and irresponsible, and it does not even accurately reflect a letter you signed last month.”
At the time Sherman made the above remarks, it was reported that Trump had signed another executive order to delay the TikTok ban or sale.
According to reports, this delay is TikTok’s third, which means TikTok has 90 days to find a buyer in the United States, otherwise it will be banned.
Sherman emphasized that U.S. law only allows for one extension and believes that Trump’s failure to enforce the ban on TikTok is illegal.
Sherman’s allegations clearly refer to reports about the GD Culture Group’s plans to purchase $300 million in TRUMP and Bitcoin in May, related to TikTok.
Although GD Culture Group, listed on NASDAQ, has no known formal relationship with TikTok or its parent company ByteDance, creating AI-enhanced content on TikTok is one of its main businesses.
Sherman claimed: “Trump is making ‘Trump Coins’ for free, which means this is just a $300 million bribe, going straight into his pocket.”