TikTok has firmly denied the allegations made by Congressman Brad Sherman concerning the purported purchase of $300 million worth of the TRUMP memecoin. This accusation arises as tensions escalate between the U.S. government and TikTok, nearing a potential nationwide ban. The controversy surrounding this incident highlights the potential impact of political actions on the cryptocurrency market and vice versa. TikTok’s response may influence public perception and investor trust in cryptocurrencies associated with political figures. Stakeholders should monitor developments as both the political and crypto landscapes evolve.