Golden Finance reported that Students for Trump co-founder Ryan Fournier admitted to selling 50% of the TIKTOK token supply he held at X Space, causing the project's market value to plummet from US$90 million to US$5 million. On-chain data shows that Fournier exchanged 505 million TIKTOK tokens for approximately $700,000 SOL at UTC 20:28. Fournier claimed that he was deceived by Asta, the founder of the coin, but promised to compensate investors US$50,000. Previously, Fournier was publicly refuted by Eric Trump for spreading false news about Trump’s involvement in RTR tokens.