Students for Trump co-founder Ryan Fournier admitted at X Space to selling 50% of his holdings of the TikTok token supply, causing the project's market value to plunge from $90 million to $5 million. On-chain data shows that Fournier exchanged 505 million TikTok tokens for about $700,000 SOL at 20:28 UTC. Fournier claimed to have been cheated by token founder Asta, but promised to compensate investors $50,000. Previously, Fournier was publicly refuted by Eric Trump for spreading false news about Trump's involvement in RTR tokens.