The 23-year-old "Riverdale" star revealed the news on her Instagram Story on Wednesday, June 3, 2020 while promoting the West Hollywood LGBTQ+ for Black Lives Matter protest, which kicked off in Los Angeles at noon.
"Although I've never announced it publicly before, I am a proud bisexual woman. And I will be joining this protest today," Lili wrote. "Come join."
Last week, reports suggested she and her "Riverdale" co-star, Sprouse, had called time on their three-year romance. Neither has officially confirmed the news.
Cole was arrested for peacefully protesting over the weekend in Santa Monica, California.
He took to social media on Monday, June 1, 2020 to confirm reports he was detained by police for "standing in solidarity" with activists near Santa Monica Pier on Sunday.
"A group of peaceful protesters, myself included, were arrested yesterday in Santa Monica," he wrote on Instagram, while urging the media not to sensationalise the news and "turn it about me."
"I was detained when standing in solidarity, as were many of the final vanguard within Santa Monica," Cole added. "We were given the option to leave, and were informed that if we did not retreat, we would be arrested. When many did turn to leave, we found another line of police officers blocking our route, at which point, they started zip tying us."
"It needs to be stated that as a straight white man, and a public figure, the institutional consequences of my detainment are nothing in comparison to others within the movement."