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TikTok Goes American by Matty Merritt

TikTok is an American company now. Ownership of TikTok’s US operations has officially changed hands, but your experience on the app likely won’t change much…immediately. A group of American investors closed a $14 billion deal Thursday night to acquire the US version of the short-form video app and avoid a shutdown mandated by the 2024 divest-or-ban law due to national security concerns. Under the deal, TikTok’s original parent, ByteDance, will retain 19.9% of the company while Larry Ellison’s Oracle, private equity firm Silver Lake, and Abu Dhabi-based investment company MGX will split 45% of the company as managing investors. Most of the remaining shares of the new US TikTok entity will be owned by existing ByteDance investors. The three managing investors will own US user data and be tasked with moderating US content. ByteDance will still own its wildly valuable algorithm, but, according to a White House official, it will lease a copy to the owners of the US entity. For starters, you won’t need to download a new app.   A group of US investors bought TikTok

TikTok’s Algorithm to Be Licensed to US Joint Venture Led by Oracle and Silver Lake

Tech giant Oracle will spearhead U.S. oversight of the algorithm and security underlying TikTok’s popular video platform under the terms of a deal laid out this week by President Donald Trump’s administration. All the final details still need to be nailed down among several joint venture partners that will include Oracle, investment firm Silver Lake Partners and possibly two billionaires — media mogul Rupert Murdoch and personal computer pioneer Michael Dell. . Although he no longer runs Oracle as its CEO, company co-founder Larry Ellison remains a top executive while also overseeing an estimated personal fortune of $390 billion. Ellison, 81, now could be in line to become a behind-the-scenes power player in the media, having already helped finance Skydance’s recently completed $8 billion merger with Paramount, a deal engineered by his son, David. The U.S. administration would not have a stake in the joint venture nor be part of its board, according to a senior White House official.  Oracle will manage TikTok algorithm for US users under Trump deal | AP News

 

What Are Stablecoins and How Do They Work?

Stablecoins are less volatile than other cryptocurrencies (like Bitcoin) and due to crypto assets’ inherent instability, stablecoins are growing in popularity with both crypto and traditional markets. Stablecoins are a type of crypto asset, but one that offers a way to bridge the gap between fiat currencies like the U.S. dollar and cryptocurrencies. Because they are price-stable digital assets that behave like fiat but maintain the mobility and utility of cryptocurrency, stablecoins are a novel solution to crypto volatility: price stability is built directly into the assets themselves.  There are four primary stablecoin types, identifiable by their underlying collateral structure: fiat-backed, crypto-backed, commodity-backed, and algorithmic stablecoins.  What Are Stablecoins and How Do They Work? | Gemini