Students for Trump Lianchuang denies fraud charges after selling half supply of meme coin 'TIKTOK'

PANews January 20 news, according to The Block, conservative activist and Students for Trump co-founder Ryan Fournier faced strong criticism from Meme currency traders for selling half of the supply of Meme coins created to celebrate TikTok’s unbanning.

Fournier said on X Space on Sunday night that he came up with the idea of ​​a TikTok-themed meme coin with a meme trader (presumably X user "Asta") after TikTok relaunched in the United States. . According to two traders, Asta created the coin and sent half of the supply to Fournier. The coin's value quickly surged, with a market capitalization exceeding $90 million. However, when prices began to fall, Fournier admitted to selling his reserves. A wallet previously confirmed by Fournier exchanged 505 million TIKTOK tokens for approximately $700,000 worth of SOL at 20:28 UTC on Sunday.

"All of a sudden, Asta sold, and then I sold, so I didn't know what was going on... I thought the guy was a liar and he scammed me and I did the same," Fournier said. Although Asta The wallet does not show any sales records of TIKTOK tokens, but Fournier claims that Asta has been purchasing the tokens from other accounts. Fournier has denied profiting from the sale in X Space and has repeatedly insisted he was defrauded by the token's creator, claiming he "virtually lost money" after buying and then selling the token. He said: "We will correct the mistake, no matter what I do, if I have to give you $50,000 in cash, I will find a way to do it. I am very ashamed of what happened today." Fournier also posted on X, He will stay away from cryptocurrencies in the future “until I have a better idea of ​​who to trust” as he looks forward to working for President Trump’s new administration. However, in Space, he boasted about his ties to Trump’s cryptocurrency advisor.