ByteDance

TikTok has filed a lawsuit against the US government, refusing to comply with the new law that requires the sale of its popular video-sharing app. The company has made it clear that it will not be able to sell its algorithm, which is the primary concern of the US government. What Happened: TikTok...

The recent divest-or-be-banned legislation aimed at TikTok has sparked a wave of debate over how much the government should be allowed to control people’s access to content and media. The legislation, signed into law by President Joe Biden last week, gives the Beijing-based social media...

In a recent development, a majority of Americans view TikTok, a social media platform owned by China’s ByteDance, as a tool for Chinese influence on US public opinion, a Reuters/Ipsos poll reveals. What Happened: The poll disclosed that 58% of the participants agreed with the notion that the...

Social media app TikTok is closer to being banned in the U.S. after Congress and President Joe Biden signed legislation to force a sale of the app to an American company. Former President Donald Trump previously spoke out against TikTok parent ByteDance, but has since reversed his stance. A...

European Commission president Ursula von der Leyen has suggested that a ban on TikTok in the EU is a possibility. What Happened: Von der Leyen made the statement during a debate in Maastricht on Monday, where the lead candidates for the 2024 EU election were discussing...

TikTok Lite recently hit pause on its reward system in the EU due to concerns raised by regulators. According to The Verge, the feature — which allowed users in France and Spain to earn small amounts daily for interacting with videos — came under scrutiny for its potential to encourage addiction,...

Omeed Malik, founder and CEO of Farvahar Partners, recently voiced his concerns over the TikTok crackdown bill signed by President Joe Biden, expressing distrust in the bill and its implementation. What Happened: During CNBC’s “Last Call” on Wednesday, Malik stated, "I really have...

U.S. President Joe Biden‘s recent signing of legislation has thrown ByteDance’s TikTok into the spotlight, with CEO Shou Zi Chew saying the platform will fight back. “Make no mistake, this is a ban, a ban on TikTok and a ban on you and your voice,” the CEO said in a two-...

The U.S. Senate has passed a bill that could lead to the ban or sale of TikTok, marking a significant development in the ongoing debate over the app’s Chinese ownership. What Happened: The Senate voted 79-18 in favor of the bill, which is part of a larger funding package providing aid to...

Edward Snowden, the former computer security consultant for the National Security Agency, has voiced his support for Elon Musk’s opposition to a potential TikTok ban in the United States. What Happened: On Monday, Snowden responded to a post from Elon Musk, owner of X, in which Musk expressed...

Senator Maria Cantwell is aiming to terminate China’s influence over TikTok, while ensuring that any related legislation withstands legal scrutiny. Cantwell In Charge Of Shaping TikTok’s Fate The House overwhelmingly approved a measure mandating TikTok to secure a new owner devoid of...

Taylor Swift‘s latest album, “The Tortured Poets Department,” has joined forces with ByteDance’s TikTok. This marks a significant turnaround after Swift’s music was absent from the platform due to a dispute between Universal Music Group NV (OTC:UMGNF) and the popular...

A high-profile bill that aims to dismantle TikTok's U.S. operations is affecting social media stocks. What Happened: At last check on Thursday: Meta Platforms Inc (NASDAQ:META) is up 1.4% Snap Inc (NYSE:SNAP), whose app Snapchat presents significant overlap in user base with TikTok, saw its...

Billionaire and early OpenAI investor Vinod Khosla has supported the forced divestiture of TikTok from its parent company, ByteDance, based in China. Khosla referred to the social media platform as China’s ‘programmable fentanyl’. What Happened: Khosla expressed concerns about...

Leading Chinese company ByteDance saw strong 2023 profits, which come as the company's TikTok unit faces a potential ban in the U.S. What Happened: As ByteDance faces a potential ban of TikTok in the U.S. or a forced sale of the unit, the company is seeing record annual profit. On Wednesday,...