Strategic Partnership with BONK

On Monday, Safety Shot revealed a strategic partnership with the founding contributors of Bonk. The company plans to deeply integrate into the memecoin ecosystem and focus its treasury assets on this token. CEO Jarrett Boon highlighted Bonk’s technical advantages, including high-speed and low-cost transactions compared to its competitors.

The company noted that Bonk’s position is favorable compared to Ethereum and Dogecoin, which face higher fees and slower transaction speeds. Bonk ranks as the fifth-largest memecoin by market capitalization, with $1.9 billion and 77 trillion tokens in circulation.

Share Price and Investor Reaction

Following the announcement, Safety Shot shares (SHOT) plunged 50% in after-hours trading on Monday, falling to $0.59. The company said it had settled all outstanding debt and held more than $15 million in cash prior to this move. Additionally, it plans a $35 million preferred share issuance, which can be converted into the company’s common stock.

Memecoin Trends and Corporate Moves

Safety Shot is not the first public company to make a memecoin treasury a central strategy. Earlier, in May 2025, GD Culture Group announced plans to raise up to $300 million for a crypto treasury reserve including the US president’s namesake TRUMP memecoin.

According to CoinMarketCap, the total market capitalization of memecoins has fallen 25% since the beginning of the year, while the overall crypto market has grown 22%.

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The post Safety Shot Expands Goals with BONK Memecoin Move! appeared first on Coin Engineer.

The story involves a $300 million purchase of Trump’s official memecoin. But the Chinese tech giant was quick to push back on the claims.

TikTok: “False and Irresponsible Accusation”

Democratic Representative Brad Sherman accused the Chinese owners of TikTok of buying “Trump Coins” as a political bribe. However, TikTok’s official policy account on X sharply denied the claim, calling it false and misleading.

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“This is patently false and irresponsible, and doesn’t even reflect a letter you signed last month,” the company said in a public statement.

GD Culture Group Creates Confusion

Sherman’s claim may have stemmed from reports about Nasdaq-listed GD Culture Group announcing plans to purchase Trump memecoin and Bitcoin. While GD Culture produces AI-driven content on TikTok, it has no formal affiliation with TikTok or its parent company ByteDance.

Still, Sherman linked these announcements directly to TikTok, suggesting they represented a disguised financial favor to Trump. The lack of evidence for any such connection raised eyebrows across the political and crypto communities alike.

Community Pushback Against Sherman’s Claim

Sherman is known for his anti-crypto stance, previously calling for a blanket ban on digital assets. His recent comments were quickly dismissed by much of the online community, who questioned his grasp of crypto mechanics and motivations.

Some users criticized the accusation as politically charged misinformation, while others highlighted that cryptocurrencies cannot simply be created “at no cost.”

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The post TikTok Denies $300M Trump Coin Bribe Allegation appeared first on Coin Engineer.