Exploring the intersection of TikTok, Donald Trump, and memecoins, diving into allegations, financial ties, and the rise of crypto crime.
The intersection of TikTok, Donald Trump, and memecoins is getting weirder by the day. Let's break down the key happenings.
TikTok Denies Memecoin Link
TikTok is straight-up denying claims that they're buying Trump's memecoins. This all started when California Democratic Party Representative Brad Sherman accused the “Chinese owners of TikTok” of dropping $300 million on “Trump Coins.” TikTok Policy clapped back hard, calling the claims “patently false and irresponsible.”
Sherman's allegations came as Trump keeps delaying a potential TikTok ban, which is raising some eyebrows.
Trump's Crypto Stake: A Conflict of Interest?
Here's where it gets interesting. A company linked to Trump, DT Marks DeFi LLC, has been quietly reducing its stake in World Liberty Financial (WLF), a crypto platform that launched its USD1 stablecoin. They went from a 75% stake in December 2024 to around 40% by June 8. Forbes estimates this could have earned the Trump family millions.
Critics are pointing fingers, suggesting Trump’s actions might be influenced by his personal financial interests, especially as WLF’s token launch coincided with the GENIUS Act, aimed at regulating stablecoins.
The Crypto Crime Supercycle
Blockchain investigators are sounding the alarm about a crypto “crime supercycle.” They say that memecoins promoted by political figures (cough, Trump, cough), lax regulations, and abandoned court cases have created a perfect storm for scammers. ZachXBT says crypto influencers are getting away with scamming their followers, and there are no repercussions.
Taylor Monahan says that scammers are unlikely to change their ways while they're raking in the dough. There are no social, financial, or legal downsides.
The Bottom Line
So, what's the deal? It looks like the world of TikTok, Trump, and memecoins is a tangled web of allegations, potential conflicts of interest, and rampant crypto crime. Whether it's TikTok denying memecoin purchases or Trump's company reducing its stake in a crypto venture, there's a lot happening beneath the surface. And with the rise of memecoin scams, it's clear that the crypto space needs more regulation and accountability.
In the meantime, buckle up, folks. This ride is far from over.
