The attainable buy is amid longstanding strain in opposition to ByteDance, the China-based dad or mum entity of TikTok, by the US authorities to promote its operations within the US. The administration of President Trump has pressured TikTok to dump or shut the US operation on nationwide safety issues. Though authorities initially prohibited TikTok quickly this 12 months, they later allowed it to restart operations.
There are a number of expertise giants which have expressed curiosity in shopping for TikTok US. Elon Musk, MrBeast, and Perplexity, funded by Jeff Bezos, have reportedly submitted bids as excessive as $50 billion. Nonetheless, ByteDance has not but reached a closing choice.
Ohanian’s plan to deliver TikTok onto the blockchain might mark a serious shift in social media. The venture goals to provide customers management over their private knowledge via the Frequency protocol on the Polkadot blockchain. This may enable customers to personal their knowledge slightly than leaving it within the palms of huge companies.
If profitable, TikTok would grow to be the primary main social media platform on the blockchain, signaling the transition from Web2 to Web3. Reddit’s rising curiosity in blockchain, AI, and cryptocurrencies reveals its dedication to reshaping the digital panorama.