PANews reported on January 20 that according to The Block, conservative activist and co-founder of Students for Trump Ryan Fournier faced strong criticism from Meme Coin traders for selling half of the supply of Meme Coin created to celebrate the lifting of the TikTok ban.

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

"All of a sudden Asta sold and then I sold so I don't know what happened... I think that guy is a scammer and he scammed me and I did the same," Fournier said. Although Asta's wallet does not show any record of sales of TIKTOK tokens, Fournier claims that Asta has been buying the token from other accounts. Fournier denied profiting from the sales in X Space and repeatedly insisted that he was scammed by the token creator, claiming that he was "almost at a loss" after buying and then selling the tokens. 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 that he would stay away from cryptocurrency in the future "until I have a better understanding of who to trust" as he looks forward to working for President Trump's new administration. However, in Space, he boasted about his connection to Trump's cryptocurrency adviser.