Because of the intense regulatory pressure in the US jurisdiction, Tik-Tok is now on the verge of ban.
TikTok is a popular short video-sharing platform. This platform favours push only for cringe videos, which means not giving support for educational videos. Also, the back-end company ByteDance is a Chinese company, posing significant challenges to the American’s identity & sensitive data security .
Currently, ByteDance has two options to survive in the US jurisdiction: either sell the Tik-Tok platform to another company or shut down its app service.
Just a day ago, top YouTuber Mr Beast said that he has links with many billionaires & can help them to show interest in the Tik-Tok platform.
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A popular crypto entrepreneur, Justin Sun, also showed his interest in the Tik-Tok platform and said that he could offer the acquisition amount for Tik-Tok.
Some crypto X users noted that Justin already passed several big statements regarding big matters, but practically, he did nothing, so here we should ignore him. Also, Justin is currently under multiple charges by the US securities regulatory body SEC.
The latest report by Reuters claimed that ByteDance is not in the mood to sell the video-sharing platform, instead planning to shut down the app before 19 Jan 2024.
Now, it will be interesting to see what will happen because, after 19 Jan, the leadership of the USA will be in the hands of Donald Trump.
If Tik-Tok gets banned in the US, then it will end up suspended in its services for other jurisdictions also because Tik-Tok depends upon the service of multiple US-based companies.
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Crypto entrepreneur Justin Sun seems interested in acquiring Tik-Tok platform
