Trump Administration Considers Oracle-Led Acquisition of TikTok to Address Security Concerns

Update: The Trump administration is facilitating an agreement for Oracle and US investors to acquire control of TikTok's worldwide operations, allowing ByteDance to hold a minority stake. Oracle will be responsible for managing the app's algorithm and data. Significance: This deal seeks to avert a nationwide ban on TikTok that could impact 170 million American users, while also tackling national security worries related to Chinese data access under ByteDance's ownership.