TikTok: American Participation Secures the App's Future

The future of the popular video app TikTok is firmly in American hands after an agreement was reached for American investors to acquire a majority stake in its US operations. White House spokeswoman Karoline Leavitt confirmed that six of the seven board members of TikTok will be from the US, and control over the algorithm will also be in American hands. This is a strategic step to address the national security concerns of the US. In talks between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng in Madrid, the framework for the separation of the American TikTok activities from ByteDance Ltd. was decided. The details of this framework will be released soon, while President Donald Trump has extended the deadline for TikTok's divestiture to December 16. A bipartisan bill requires ByteDance to separate from TikTok by January 2025. ByteDance will retain less than 20% of the shares, with new investors such as Oracle, Andreessen Horowitz, and Silver Lake Management coming on board. Oracle will act as a security provider for TikTok, working closely with the US government to ensure that American users' data is securely stored in the US without access for China. Donald Trump, the former critic of TikTok, has changed his opinion and praises the app for its role in mobilizing young voters. The agreement aims to allow American users to continue the safe and secure use of the app while strengthening cooperation with one of the leading US technology companies, Oracle.