Due to intense regulatory pressure in the US jurisdiction, Tik-Tok is now on the verge of being banned.
TikTok is a popular short video sharing platform. This platform favors sending only embarrassing videos, which means not providing support for educational videos. Additionally, the back-end company ByteDance is a Chinese company, posing significant challenges to the identity and security of Americans’ sensitive data.
Currently, ByteDance has two options to survive in the US jurisdiction: sell the Tik-Tok platform to another company or close its application service.
Just a day ago, prominent YouTuber Mr Beast said that he has ties to many billionaires and can help them show interest in the Tik-Tok platform.
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 Furthermore, Justin is currently under multiple charges by the US securities regulator, the SEC.
The latest report from Reuters claimed that ByteDance is not in the mood to sell the video-sharing platform, but instead plans to shut down the app by January 19, 2024.
Now it will be interesting to see what will happen because after January 19, the leadership of the United States will be in the hands of Donald Trump.
If Tik-Tok is banned in the US, its services will end up suspended in other jurisdictions as well because Tik-Tok relies on the service of multiple US-based companies.
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