Technology — TikTok saga comes to a close

View Online Technology Technology The Big Story  TikTok saga comes to a close TikTok said Thursday that it has established a new U.S. venture as part of an agreement to allow the popular social media platform to continue operating in the U.S. © Jeff Chiu, Associated Press The deal brings to a close a lengthy saga for the app, which faced a ban if it failed to divest from its Chinese parent company ByteDance.   The new venture, called TikTok USDS Joint Venture, is majority owned by U.S. investors. Three American firms — Silver Lake, Oracle and MGX — will serve as managing investors, each holding a 15 percent stake.   ByteDance retains a 19.9 percent stake in the company. The remaining investors include an investment firm tied to Dell CEO and founder Michael Dell and affiliates of Susquehanna International Group and General Atlantic, among others.   "TikTok USDS Joint Venture's mandate is to secure U.S. user data, apps and the algorithm through comprehensive data privacy and cybersecurity measures," the company noted in a press release Thursday.   "It will safeguard the U.S. content ecosystem through robust trust and safety policies and content moderation while ensuring continuous accountability through transparency reporting and third-party certifications," it added.   The spinoff aims to comply with a law passed by Congress in April 2024 requiring ByteDance to divest from TikTok or face a ban on U.S. networks and app stores.   The measure received widespread bipartisan support in the face of privacy and national security concerns related to the app's ties to China.   TikTok challenged the divest-or-ban law, but it was ultimately upheld by the Supreme Court just days before it was set to take effect. The app briefly went dark before receiving assurances from then-President-elect Trump.   Former President Biden declined to enforce the measure, which took effect on his last full day in office. Trump, who vowed to "save" TikTok during his 2024 campaign, quickly signed an executive order after his inauguration, delaying enforcement for several months.   Trump repeatedly pushed back the deadline, as he sought to reach a deal with China that would allow the app to continue operating in the U.S.   A deal briefly appeared close in April but was scuttled by the president's announcement of wide-ranging reciprocal tariffs on dozens of countries, including China.   After an agreement was reached in September, Trump signed an executive order approving the deal to spin off TikTok's U.S. business.   Check out the full report at TheHill.com. Welcome to The Hill's Technology newsletter, I'm Julia Shapero — tracking the latest moves from Capitol Hill to Silicon Valley. Did someone forward you this newsletter? Subscribe here. Essential Reads  How policy will be impacting the tech sector now and in the future: Judge rejects DoorDash, Uber request to block New York City tipping option laws A federal judge on Friday rejected a request from DoorDash and Uber to block two New York City laws requiring food delivery companies to include certain tipping options and prompt customers to tip delivery workers before or during checkout. U.S. District Judge George Daniels ruled that the two companies had failed to show they were likely to succeed on the merits of the case or that they would suffer irreparable harm in the …  Full Story Senate Democrat calls for investigation into TikTok deal Sen. Ed Markey (D-Mass.) called for an investigation Friday into a deal that saw TikTok’s American business spun off into a separate entity in order to allow the app to continue operating in the U.S. The deal was finalized Thursday, with TikTok announcing it had officially established the new U.S. venture. "After over a year of Donald Trump illegally extending the TikTok deadline, this TikTok deal raises many more questions …  Full Story White House labels altered photo of arrested Minnesota protester a 'meme' The White House referred to an altered photo of Minnesota protester Nekima Levy Armstrong's arrest as a "meme" on Thursday.  "YET AGAIN to the people who feel the need to reflexively defend perpetrators of heinous crimes in our country I share with you this message: Enforcement of the law will continue. The memes will continue. Thank you for your attention to this matter," White House spokesperson Kaelan Dorr wrote in …  Full Story The Refresh  News we've flagged from the intersection of tech and other topics: Malaysia lifts block on Grok AI after X implements safety measures (Reuters) Meta pauses teen access to AI characters ahead of new version (TechCrunch) TikTok updates its terms and condition in the U.S. (New York Times) Crypto Corner  Warren slams OCC over World Liberty bank charter consideration © Greg Nash Sen. Elizabeth Warren (D-Mass.) slammed the Office of the Comptroller of the Currency (OCC) on Friday after it declined to delay consideration of a bank charter application from a cryptocurrency venture linked to President Trump's family.   World Liberty Financial, a crypto venture launched by Trump and his sons in late 2024, announced earlier this month that it had applied for a federal banking charter.   Warren called on the OCC last week to halt its review of the company's application until Trump divests and "eliminates all financial conflicts of interest involving himself or his family and the company."   In his response Friday, Comptroller of the Currency Jonathan Gould said the OCC is "committed to following all applicable laws and regulations."   "Congress has made clear that the OCC has a duty to act on the applications it receives in a timely manner," he said. "The OCC intends to act consistent with this duty rather than your demand."   Warren, in return, suggested that Trump's "unprecedented crypto corruption has metastasized to the banking system" and dismissed the agency's review a "sham."   "We have never seen financial conflicts of this magnitude and no crypto market structure legislation should pass Congress without guardrails to stop this kind of corruption," she added. Crypto Corner is a daily feature focused on digital currency and its outlook in Washington.   You're all caught up. See you next week!  Check out The Hill's Technology page for the latest coverage. Like this newsletter? Take a moment to view our other topical products here 📩 Privacy Policy  |  Manage Subscriptions  |  Unsubscribe  400 N Capitol Street NW Suite 650, Washington, DC 20001 Copyright © 1998 - 2026 Nexstar Media Inc. | All Rights Reserved.

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