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GD Culture (GDC) Group, a NASDAQ-listed company claiming to be a TikTok e-commerce platform with links to China, 8 employees and no revenue reported in 2024, pledges $300M that it plans to use to purchase Bitcoin and the $Trump meme coin, as per a SEC (Security and Exchange Commission) filing on May 11.
According to the filing, GDC said it plans to allocate its budget to Bitcoin and TRUMP using proceeds from a private stock placement to an unnamed entity based in the British Virgin Islands, a jurisdiction known for its secrecy and favorable tax status.
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Until now, GD Culture Group has had a minimal public footprint. Its operations in China and reliance on a Chinese-owned platform like TikTok gave it little visibility in Western capital markets. But that changed dramatically when it revealed plans to raise hundreds of millions of dollars through a two‑year “equity line” (also called a committed‑equity facility) with a single accredited investor.
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Should the transaction proceed as filed, GDC’s assets could balloon from just $14 million at the end of 2024 to potentially more than $300 million.
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The timing of the move is especially contentious. Lawmakers in Washington are debating a proposed ban on TikTok, citing national security concerns over its Chinese ownership. President Trump has expressed support for a deal allowing the platform to continue operating in the US, a position at odds with many in Congress.
GD Culture Group’s announcement directly intersects with this policy debate. Ethics experts argue that any financial gain for the Trump family linked to such a decision would represent an apparent conflict of interest.
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