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Trump Gives His 'Blessings' For Oracle-TikTok Deal

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  • Tip Bones

It has been all everyone could talk about in the past few months when Trump announced he had plans to ban TikTok due to security reasons. For fears related to the upcoming election, he claimed that the app allowed users too much control and for China the ability to tap into user's information. The only proposition he posed for holding off on the ban is that a US company buys the popular app with his approval. Oracle did just that and trump gave his "blessings" for the new ownership. 

On Saturday, Trump gave his approval "in concept" for the new deal, which would create a company called TikTok Global. The original owners of the app, a Chinese company called ByteDance, have indicated possible approval of the deal without having to give up artificial intelligence algorithms ownership of the app. Reportedly, the download of the app is set to commence on Sunday. The majority of assets will remain to the original owners. 

Trump reportedly told the Oracle CEO that he still expects to be given compensation for the earnings of the company. 

In a statement released by TikTok, a spokesperson for the company said that this new deal "will resolve the security concerns of the US Administration and settle questions around TikTok's future in the US."