is considering banning the hugely popular video-sharing app TikTok, over concerns that its Chinese ownership poses a threat to national security. (Stefani Reynolds/AFP via Getty Images)ġ50 million Americans use TikTok for things like dance challenges, makeup tutorials and cooking videos. China urged the United States to stop "unreasonably suppressing" TikTok on March 16, 2023, after Washington gave the popular video-sharing app an ultimatum to part ways with its Chinese owners or face a nationwide ban. The short-form video app is used by more than 100 million Americans - the majority of whom are under 30.Įarlier this month, the House Foreign Affairs Committee approved a bill that gives President Biden the authority to ban foreign technologies including TikTok.Īlso this month, the White House ordered government agencies to remove TikTok from all federal devices in the next 30 days.This photo illustration shows the TikTok logo reflected in an image of the US flag, in Washington, DC, on March 16, 2023.
#WHO CURRENTLY OWNS TIKTOK CRACK#
Warner’s announcement comes on the heels of a concerted effort by Congress to crack down on TikTok. “They are taking data from Americans, not keeping it safe, but what worries me more with TikTok is that this can be a propaganda tool,” Warner said. Mark Warner (D-Va.) said he will introduce a bipartisan bill this week that would grant the government authority to “ban or prohibit” foreign technology like the China-owned app TikTok. TikTok CEO Shou Zi Chew will testify in front of House Energy and Commerce Committee Thursday, March 23 about the company’s ties to China. “At a time when TikTok’s harm to consumers and national security has led to increased scrutiny it is egregious that JPMorgan Chase is working to bolster the company’s payments infrastructures,” the letter stated. The letter – sent to Sherrod Brown (D-Ohio), Ron Wyden (D-Ore.), and Dick Durbin (D-Ill.) who chair the Committee on Banking, Housing, and Urban Affairs Finance and Judiciary respectively – called out the nation’s largest bank for actively partnering with TikTok to create payment systems for the app. The talks come as politicians from across the political spectrum are calling for a forced divestiture of TikTok from its Beijing-based parent, ByteDance. The talks come as politicians from across the political spectrum – including the progressive flank of the Democratic Party – are calling for a forced divestiture of TikTok from its Beijing-based parent, ByteDance.Įarlier this week, Revolving Door Project, a left-leaning advocacy group, sent a letter to top Democratic senators urging a probe of JPMorgan Chase’s ties to TikTok.
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The source wasn’t able to elaborate further, but talks orchestrated by the Trump administration had included a proposal for Oracle - the software giant owned by billionaire Larry Ellison - to partner with Walmart to own a US TikTok subsidiary, taking control of US user data and content moderation. TikTok is mulling over its options and exploring possible deals it considered when President Trump had threatened to ban the app in 2020, a source close to TikTok told On The Money. New York art dealer Larry Gagosian talks artificial intelligenceĮven as TikTok’s Chinese owners publicly resist pressure from the Biden administration to sell the wildly popular video app, conversations between TikTok and potential buyers are heating up, sources told On The Money. New fund rejects ‘woke’ investing as it touts ‘EIG’ economyĭonald Trump’s ties to LIV Golf may hurt potential PGA merger, fueling greater antitrust scrutinyĭish desperate to raise money to meet 5G deadline: source
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