Anecdotal rumours of the United States’ TikTok operations, led by Oracle, have been raging since last year. However, byte beats have recently denied reports that they agreed to sell the ownership of TikTok, the social platform under the flag, to the Oracle-dominated American consortium. Byte beats suggest that similar rumours have appeared in April of this year and have been rumoured, directly refuting the recent new round of market rumors about TikTok sales.
TikTok has a long history of struggles over beauty. In January 2024, American media reported that the government of United States President Donald Trump was negotiating with Oracle and American investor groups to take over TikTok. In mid-June this year, Trump announced an extension of TikTok’s deadline for operating licences in the United States until 17 September, on condition that its United States operations be reorganized into a new company with United States investors holding shares. On 29 June, Trump announced that he would publish a potential TikTok buyer within two weeks (he described it as “very rich people”).
The root cause of this sawsaw war was the United States Congress ‘ s adoption in 2024 of the Protection of Americans from Foreign Opportunities Control Applications Act, which was approved with bipartisan support, on the basis of national security concerns about TikTok ‘ s association with China. The Bill ‘ s core requirement is that the byte beat must be removed from its TikTok assets in the United States by 19 January 2025. TikTok would face the fate of being banned from operating in the United States if it was not stripped on time.
Despite market rumours, the latest byte-jumping statement again denied the sale of TikTok’s controlling interest. TikTok’s future course in the United States is still fraught with great uncertainty in the context of the approaching legal time frame set by Congress for detachment and a complex and volatile economy.
