The deadline set by President Donald Trump arrives and TikTok could be banned in the US as of Saturday, unless it is purchased by a US buyer
TikTok is at the centre of an impasse in the US, where President Donald Trump has set a deadline for Saturday, with his first day in office executive order forcing the platform to be bought by a US owner, otherwise it risks a lockout. The 75-day deadline is about to expire and, to date, at least four groups have submitted bids for the purchase. Among them is the group ‘People’s Bid for TikTok’, which includes Shark Tank’s Frank McCourt and Kevin O’Leary, with a bid of USD 20 billion.
ByteDance, the owner of TikTok, would probably be constrained by the need to obtain approval from the Chinese government to proceed with the sale, as reported by Axios. Despite the difficulties, attempts to sell continue, including a bid by MrBeast (Jimmy Donaldson) and Jesse Tinsley, who are aiming to resolve national security concerns, according to a statement to CNN.
In parallel, the artificial intelligence engine Perplexity submitted a merger proposal, promising a revamped TikTok with transparent algorithms and increased security. At the same time, Oracle has intensified talks with the White House to manage the data of American users, avoiding access by the Chinese government. The future of the platform remains uncertain with increasing pressure to ensure data security.
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