Time’s Up For TikTok – Trump To Order Bytedance To Sell US Operations
Tyler Durden
Fri, 07/31/2020 – 13:38
It appears a decision has been made on the viral social media app TikTok – what Reddit CEO Steve Huffman called ” fundamentally parasitic.“
Bloomberg reports that, according to people familiar with the matter, President Trump plans to sign an order to direct China’s ByteDance Ltd.’s to divest its ownership of the popular app.
The U.S. has been reviewing potential national security risks due to the company’s control of the app, and the order could be announced as soon as Friday.
This comes after Josh Hawley and Dick Blumenthal asked for an investigation because of reports of violations of Americans’ civil liberties by sharing private info with the CCP.
“Based on numerous reports, we are extremely concerned that Zoom and TikTok have disclosed private information about Americans to the PRC and engaged in censorship on behalf of the Chinese government,” the letter read.
Snap shares are jumping on the news…
We wonder just how this will be achieved and most importantly, if China will allow it.
Zero Hedge’s mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information’s unending quest for freedom. Visit https://www.zerohedge.com