In a dramatic turn of events, U.S. Congressman Brad Sherman has sparked significant controversy by accusing TikTok’s Chinese owners of attempting to influence U.S. politics. Sherman alleges that they purchased $300 million worth of the TRUMP meme coin as a form of bribery. TikTok firmly denies these allegations, asserting they are baseless and unfounded.

The situation is raising eyebrows given the heightened scrutiny of foreign influence in American politics. The implications of such an accusation could resonate beyond the crypto space, affecting both TikTok’s reputation and legislative scrutiny on foreign investment. With the spotlight now on TikTok, many are watching closely to see how this situation unfolds.