President Donald Trump signed an executive order Wednesday approving a deal to allow TikTok to continue operating in the United States, as the Chinese app becomes majority-owned by American interests in a new joint-venture company.
The deal involves TikTok’s Chinese parent company, ByteDance, selling the social media app’s U.S. operations to a consortium of American investors, Breitbart News reported earlier this week. American technology giant Oracle, co-founded by centibillionaire Larry Ellison, will be entrusted to retrain the formerly Chinese-controlled TikTok algorithm “from the ground up” to create a separate, more secure version for U.S. users, according to Bloomberg.
Trump continued to delay the impending TikTok ban in order to have enough time for the deal to fall into place, with Vice President JD Vance saying as the order was signed, “There was some resistance on the Chinese side.”
Hellbound and Down 