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Oracle is exploring a proposal to address US security concerns regarding TikTok, which includes providing data security assurances and potentially acquiring a small stake in a new American entity. While TikTok's algorithm would remain under ByteDance's control, this may ease Chinese approval but raises compliance issues in the US. The plan requires approval from the Trump administration, ByteDance, and Chinese authorities, as Oracle collaborates with US buyers to prevent Chinese government access to user data.
Bakkt Holdings faces a significant setback as Bank of America and Webull announce they will not renew their agreements, jeopardizing 16% and 74% of its revenue streams, respectively. The company, heavily reliant on these partnerships, is under pressure to find new clients or pivot its business model amid a declining share price and regulatory uncertainties in the crypto landscape. Bakkt's future remains uncertain as it navigates these challenges while the institutional crypto ecosystem grows increasingly competitive.
US Vice President JD Vance anticipates a deal for TikTok's sale in the US by April 5, aiming for a "distinct American TikTok enterprise." The platform's future hinges on a bipartisan mandate for ByteDance to divest or face a ban, with negotiations ongoing with several unidentified bidders. Potential buyers include Reid Rasner, Alexis Ohanian, and Frank McCourt, while the administration prioritizes data privacy and national security.
US Vice President JD Vance anticipates a deal for TikTok's sale in the US by April 5, aiming for a "distinct American TikTok enterprise." The platform's future hinges on a bipartisan mandate for ByteDance to divest or face a ban, with negotiations ongoing with several unidentified bidders. Potential buyers include Reid Rasner, Alexis Ohanian, and Frank McCourt, while the administration emphasizes data privacy and national security in the discussions.
Alexis Ohanian, co-founder of Reddit, has joined Frank McCourt's "Project Liberty" as a strategic adviser in the bid to acquire TikTok's US operations. The initiative emphasizes user data control and privacy, amid a 75-day deadline from the US government for ByteDance to divest. Other bidders include YouTube star MrBeast and businessman Reid Rasner, while ByteDance has yet to clarify valuation terms or secure a banker.
The race to acquire TikTok intensifies as ByteDance faces a mandated sale to a US buyer or a ban. Notable contenders include YouTuber MrBeast, billionaire Frank McCourt with "The People's Bid," and tech moguls like Elon Musk and Larry Ellison, while other potential buyers include Steven Mnuchin and Bobby Kotick. The urgency grows as the deadline approaches, with various proposals emerging to reshape the platform's future.
President Trump expressed openness to Elon Musk or Larry Ellison acquiring TikTok in a joint venture with the U.S. government, suggesting a deal where half of the app would go to the U.S. He extended the sale deadline by 75 days, despite ByteDance's refusal to sell. Potential buyers, including a group led by Jesse Tinsley and offers from Frank McCourt and Kevin O'Leary, are emerging amid uncertainty over China's stance on the sale.
The Supreme Court's decision to uphold a law mandating TikTok's sale by Sunday has sparked speculation about potential buyers, including Elon Musk, MrBeast, and Kevin O'Leary. President Biden has left enforcement of the ban to incoming President Trump, who has expressed intentions to "save" the app. Concerns over Chinese government influence and data privacy have fueled the push for an American ownership structure.
Elon Musk is facing a lawsuit from the SEC for allegedly failing to disclose his stake in Twitter, now X, prior to its acquisition, which the SEC claims resulted in Musk underpaying by over $150 million. The lawsuit reveals detailed communications between Musk and Twitter's board, indicating he privately informed them of his ownership before making a public announcement. Meanwhile, discussions around a potential TikTok acquisition by Musk could reshape the platform, though it may encounter regulatory challenges and concerns over its proprietary algorithm.
A federal appeals court upheld the PAFACA Act, allowing for a potential TikTok ban in the U.S. due to national security concerns. TikTok's lawsuit claimed the law infringes on free speech, but the court ruled it does not suppress content, leaving the app's future uncertain as it may appeal to the Supreme Court. The Biden administration could extend the deadline, placing the decision in the hands of President-elect Trump.
Frank McCourt
People
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