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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Competition for TikTok Sale Intensifies!

Zoop, a social media app developed by OnlyFans founder Tim Stokely, and HBAR Foundation filed an intent to bid for TikTok on April 2, according to a Reuters report. The bid comes amid offers from major tech companies such as Amazon, Oracle, Microsoft, and Rumble, all aiming to keep the popular video-sharing app operational for US users.

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Zoop co-founder RJ Phillips reportedly said:

“Our bid for TikTok isn’t just about changing ownership; it’s about creating a new paradigm where both creators and their communities benefit directly from the value they generate.”

April 5: Deadline for TikTok’s Future

In 2024, US Congress passed a law that could potentially ban TikTok unless the company separates from its China-based parent company, ByteDance. The original deadline for the sale was January 19, but former President Donald Trump signed a 75-day extension, pushing the deadline to April 5.

HBAR Foundation, an organization working with Hedera, has a market capitalization exceeding $7.3 billion.

TikTok Sale or Ban Expected Soon

The future of TikTok remains uncertain. President Trump could extend the sale deadline further or move forward with a ban. However, only an act of Congress could override this law. The announcement of sweeping tariffs by Trump on April 4 could also shake the markets.

Reddit co-founder Alexis Ohanian is also attempting to buy TikTok and bring it on-chain. He is one of the significant figures looking to invest in the platform’s future.

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Solana ecosystem users will benefit from at least two major airdrops in January, with eligible users receiving hundreds of millions of tokens.

The first airdrop planned for the New Year will come from Solana’s layer-2 gaming network, Sonic. On January 7, Sonic will airdrop 7% of its native SONIC tokens to users.

According to a post on X from January 1, Sonic stated that only 15% of the total supply of 2.4 billion SONIC tokens would be available for trading on the airdrop day.

Related tweet:

Approximately 8% of the tokens will be pre-allocated to “early supporters,” while 7% will be airdropped to the first claimants. A notable detail is that the only way to qualify for the SONIC airdrop is by signing up through the TikTok social media platform.

Similar to Telegram mini-games, Sonic developed its SonicX game natively within TikTok and chose to reward those users directly.

Sonic raised $12 million in a Series A funding round in June 2024. Additionally, the protocol partnered with the Solana staking layer Solayer, and in November, it staked $50 million worth of SOL in its delegation pool.

Jupiter Prepares for $625 Million “JUPuary” Airdrop

Jupiter, a decentralized exchange aggregator on Solana, is preparing to airdrop approximately $625 million worth of its native JUP (JUP) tokens to eligible users in January.

In a post on X on December 27, Jupiter Uplink announced that 700 million JUP tokens (worth $625 million at current prices) would be airdropped to users.

Jupiter stated that around 2.3 million wallet addresses would be eligible for the “JUPuary” airdrop, and users could earn more JUP tokens based on different qualifying actions.

Related tweet:

Jupiter will distribute tokens to users with high trading volumes on the exchange through a tiered system. Users who accumulate over $800 in trading volume will receive 50 JUP, while users who reach $14 million in trading volume will receive 20,000 JUP tokens.

Additionally, Jupiter users who interact with features such as Perps, dollar-cost averaging (DCA), or limit orders will also receive extra JUP tokens.

The Jupiter and Sonic airdrops will be the second and third airdrops on Solana in the past month. The Pudgy Penguins airdrop, for example, distributed over $1 billion in PENGU tokens to eligible users on Solana, mostly to Pudgy Penguins holders.

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The post These Altcoins Will Distribute Airdrops in January: JUP and SONIC Airdrop Details appeared first on Coin Engineer.

Despite a token-burning event that removed 1.69 trillion BONK tokens, worth over $51 million, from circulation, the dog-themed memecoin Bonk failed to break out of a broader crypto slump.

In late November, the team behind the Solana-based memecoin Bonk proposed burning 1 trillion tokens under a plan called “BURNmas.” The plan involved burning 1,000 BONK for every X post with the #LetsBONK hashtag and 10,000 BONK for every new follower on Instagram and TikTok. BURNmas was initially scheduled for December 25.

However, it exceeded the target, and BonkDAO members voted in favor of an updated proposal to burn 1.69 trillion BONK tokens on December 26 at 5:40 pm UTC.

This represents 1.85% of the 90.97 trillion BONK tokens currently in circulation, down from 100 trillion, according to CoinGecko data.

BONK Price Declines

Token burning is a common strategy to increase token prices by creating a more favorable supply and demand dynamic.

However, despite this strategy, the token has failed to replicate the success it saw from the burning of 100 billion BONK tokens on November 13. During that period, the token price increased by 56%, reaching a new all-time high market cap of $4.38 billion within a week.

Since the December 26 burning event, the token has decreased by 7.2%, with its market cap falling to $2.3 billion. This has occurred amid a broader market downturn.

While the reason for the sell-off is unclear, some Bonk enthusiasts expressed frustration with the Bonk team for failing to execute the burn on Christmas Day as promised.

Hours before the burn event on December 26, X user BestBets told Bonk core contributor Nom:

“The price continues to drop because you guys didn’t keep your word and didn’t communicate well.”

BestBets added, “You will lose a lot of progress and coin holders by lying to the community.”

X user PootieCoin commented, “I’m losing trust.”

Despite the price drop, BONK remains the fourth-largest memecoin in the growing $105 billion market, trailing only Dogecoin, Shiba Inu, and PEPE, according to CoinGecko data.

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Details of the TikTok Allegations

According to Financial News, TikTok’s virtual currency is alleged to be indirectly convertible into fiat currency through the platform’s rewards system. This means the social media giant could face scrutiny under the FCA’s anti-money laundering and counter-terrorism financing regulations.

The letter reads:

“TikTok facilitates the transfer of money through its rewards program and arranges or facilitates the exchange of crypto assets for money or the exchange of money for crypto assets.”

TikTok users can buy virtual currencies called “TikTok Coins” and send gifts to creators. These gifts can then be converted into “diamonds” and converted into fiat money. The letter claims that TikTok is not registered with the FCA, making it vulnerable to illegal activities such as money laundering.

However, it is not clear in the report why TikTok Coins are classified as cryptocurrency, as it only refers to “virtual tokens” and “virtual currencies”. The identity of the compliance expert who made the allegations was also not disclosed.

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TikTok has previously been reported to Australia’s anti-money laundering authority with similar allegations, and is currently hiring more compliance staff. The US state of Utah is also suing TikTok over allegations of money laundering and facilitating child sexual exploitation through its rewards system.

The post TikTok Accused of Operating as a Crypto Exchange in the UK appeared first on Coin Engineer.

Symphony Ad Suite Growing with Stock Avatars and AI Dubbing

TikHub says that “all made from video footage of genuine paid performers licensed for commercial usage,” the new stock avatars are “all To read out a script, users can choose an AI-powered “voice and accent”; this will then be projected onto the avatar. The text-to—-speech tool may dub over the actors with voices in several languages and try to replicate the mouth motions of the spoken language, according a video demonstration. AI could even help to create the script.

Custom Avatars and Multi-Language Support to Enhance Ad Localization

Supported are ten languages and dialects including English, Spanish, Japanese, and Korean. The technology picks out the input language and dubs it into the target tongue for the users. Originally unveiled earlier this year, TikHub’s AI-backed ad package comprises a “virtual assistant” that monitors the site for trends and can create concepts and scripts.

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Apart from generic avatars, TikHub is unveiling personalized avatars that replicate the likeness of company representatives and content providers. These bespoke avatars, under testing with the creator community of TikHub, possess the same multi-language capabilities as the stock bots. Available to a small number of people via a waitlist, the AI avatars, translation, and dubbing services are now in beta versions.

AI Transparency and Potential Challenges

Videos produced with TikHub AI techniques will be immediately labelled by the platform as AI-generated “for full transparency.” A little box in the bottom corner with the label is seen in a demonstration video including AI-cloned content creators. Still, the artificial intelligence clones are not flawless. The film exposes the “uncanny valley,” the phenomena wherein the mouth motions and gestures do not always match what is stated.

Months after Meta unveiled an AI chatbot in September that replicated the likenesses of several celebrities, TikHub’s entry into AI avatars arrives Among the almost thirty well-known people Meta cloned into AI bots now running Facebook and Instagram accounts were Paris Hilton, Snoop Dogg, and former FTX promoter Tom Brady.

With these developments, TikHub hopes to improve ad localization and enable marketers to interact with various audiences all around more easily. It will be fascinating to witness how these artificial intelligence capabilities change digital advertising and content development as the technology develops.

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In a blog post, the company stated, ‘Whether it’s messaging apps like WhatsApp, iMessage, and Telegram or social media platforms like Facebook, Snapchat, TikTok and Instagram, even via email, we’ve made it easy to send money anywhere you can share a link.’

Coinbase also mentioned that people can send money to others even if they are in different countries, and the transfers will be resolved instantly and free of charge. The company also noted that if a link is sent to someone and they do not already have Coinbase’s digital wallet, they will be directed to download it from the app stores.

Therefore, both the sender and the recipient of the funds will need to have a Coinbase Wallet. The money will then be sent, and if not claimed within two weeks, it will be automatically refunded to the sender.

Good Timing

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