Trump Expected To Sign Today (Updating)
The post Trump Expected To Sign Today (Updating) appeared on BitcoinEthereumNews.com. Topline President Donald Trump is expected to sign an executive order on Thursday to finalize a deal between the U.S. and TikTok’s Chinese leadership, according to multiple reports, likely placing the social media app in the hands of possibly a trio or more of the world’s wealthiest—and all Trump supporters. The White House has said a deal is expected to be signed with China “in the coming days,” as multiple Trump-supporting billionaires—Larry Ellison, Marc Andreessen, Lachlan Murdoch—may be involved. Anadolu via Getty Images Key Facts As part of a ban approved by Congress in April 2024, ByteDance, TikTok’s China-based owners, are required to divest from the social media app or face a ban in the U.S., though Trump has extended a deadline for ByteDance to do so multiple times and recently proclaimed, “We have a deal on TikTok.” TikTok could be valued anywhere between $40 billion and $50 billion, Wedbush Securities analyst Dan Ives wrote earlier this year, though that estimate excluded ByteDance’s recommendation algorithm (ByteDance reportedly valued itself at more than $330 billion in August). TikTok is the third-most popular social media app in the U.S. by audience on desktop or mobile with roughly 124.7 million users in August, below Facebook’s 137.3 million and YouTube’s 162.5 million, according to estimates from Similarweb’s digital intelligence services. When Will The Tiktok Deal Be Completed? Trump is expected to sign an executive order on Thursday, which would declare a deal for ByteDance to divest from TikTok’s U.S. operations meets requirements under the 2024 law banning the app, Reuters reported, citing a White House source with knowledge of the matter. White House press secretary Karoline Leavitt suggested over the weekend a deal would likely be signed “in the coming days.” What Do We Know About The Deal’s Terms? Treasury Secretary Scott Bessent said…
The post Trump Expected To Sign Today (Updating) appeared on BitcoinEthereumNews.com.
Topline President Donald Trump is expected to sign an executive order on Thursday to finalize a deal between the U.S. and TikTok’s Chinese leadership, according to multiple reports, likely placing the social media app in the hands of possibly a trio or more of the world’s wealthiest—and all Trump supporters. The White House has said a deal is expected to be signed with China “in the coming days,” as multiple Trump-supporting billionaires—Larry Ellison, Marc Andreessen, Lachlan Murdoch—may be involved. Anadolu via Getty Images Key Facts As part of a ban approved by Congress in April 2024, ByteDance, TikTok’s China-based owners, are required to divest from the social media app or face a ban in the U.S., though Trump has extended a deadline for ByteDance to do so multiple times and recently proclaimed, “We have a deal on TikTok.” TikTok could be valued anywhere between $40 billion and $50 billion, Wedbush Securities analyst Dan Ives wrote earlier this year, though that estimate excluded ByteDance’s recommendation algorithm (ByteDance reportedly valued itself at more than $330 billion in August). TikTok is the third-most popular social media app in the U.S. by audience on desktop or mobile with roughly 124.7 million users in August, below Facebook’s 137.3 million and YouTube’s 162.5 million, according to estimates from Similarweb’s digital intelligence services. When Will The Tiktok Deal Be Completed? Trump is expected to sign an executive order on Thursday, which would declare a deal for ByteDance to divest from TikTok’s U.S. operations meets requirements under the 2024 law banning the app, Reuters reported, citing a White House source with knowledge of the matter. White House press secretary Karoline Leavitt suggested over the weekend a deal would likely be signed “in the coming days.” What Do We Know About The Deal’s Terms? Treasury Secretary Scott Bessent said…
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