TikTok

Reportedly, a crypto user lost nearly 7 million dollars in cryptocurrencies after buying a discounted cold wallet through the Chinese version of TikTok, Douyin, which turned out to be compromised.

The blockchain security company SlowMist claimed in a post on Saturday that "the private key was compromised at the moment of its creation" and that the user's funds "were drained within hours" of the compromised cold wallet.

Getting a cold wallet at a good price may seem like a good way to save money, but SlowMist claimed that cold wallets advertised as "factory sealed" or "discounted" have often been tampered with, and that the reduced price is a way to lure victims.

In an unexpected move, US President-elect Donald Trump announced his intention to issue an executive order next Monday to extend the deadline before the TikTok ban is implemented, noting that this measure "gives an opportunity to reach an agreement that guarantees the protection of national security." He added that companies that contribute to the continuation of the application before the ban is issued will not bear any legal liability.

Chinese officials prefer TikTok to remain under its parent company ByteDance. However, with a potential U.S. market ban looming, they are considering the option of Elon Musk acquiring TikTok's U.S. operations.
TikTok Faces Ban in the U.S.
The United States is actively debating a potential ban on TikTok, with the U.S. Supreme Court indicating it might support the move. TikTok has until January 19 to sell its U.S. operations or face removal from app stores and servers across the country.
TikTok argues that such a removal would violate the rights of its 170 million American users to free speech and content sharing. However, most Supreme Court justices have signaled that U.S. national security concerns outweigh the company's commercial interests or creators' freedom of expression rights.
China Considering Elon Musk's Role
In light of the looming ban, reports suggest that the Chinese government is considering allowing Elon Musk to take over TikTok's U.S. operations. Some proposals even include merging Musk's X project with TikTok. However, no concrete deal has been confirmed.
The extent of ByteDance's involvement and whether negotiations between Musk, TikTok, and ByteDance are taking place remains unclear. TikTok's U.S. operations are estimated to be worth approximately $40 to $50 billion. Yet, questions linger about how Musk would fund such a large acquisition, especially as he continues to repay significant loans for his Twitter purchase.
China's Influence on the Deal
If TikTok decides to sell its U.S. division, the Chinese government will have significant influence over approving the transaction. While TikTok claims that Chinese government oversight only applies to its sister app Douyin, China's export laws restrict the sale of software algorithms to foreign entities.
Whether TikTok's U.S. operations will be sold to Musk or another company ultimately hinges on political and regulatory factors.

#ElonMusk , #tiktok , #CryptoNewss , #china , #CryptoNewsCommunity

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

TikTok – the famous short video platform, is facing the risk of being banned in the US if it is not sold. Under pressure from the US government, many billionaires and large corporations are vying for the opportunity to acquire this app. A notable name that just joined the race is Alexis Ohanian, co-founder of Reddit, with the ambition to bring TikTok to the blockchain so that users truly hold control over their data.

TikTok is an immensely popular social media platform where users can record and edit short videos and share them with a global audience. TikTok is owned by ByteDance, a company headquartered in China. TikTok made its debut in 2017 and currently serves around 1 billion monthly active users. Notably, TikTok has a “twin app” called Douyin, which is focused on the Chinese market.Given TikTok’s huge success, it’s not surprising that many people are wondering how to buy TikTok stock or how to invest in TikTok. In this article, we’ll explain why it’s currently difficult for the average investor to invest in TikTok since ByteDance is a privately owned company. Still, we’ll show you some methods of how you can get some indirect exposure to the success of TikTok. Who owns TikTok?TikTok is owned by ByteDance, a China-based company with several products such as TikTok, Douyin, Mobile Legends, PICO, Lemon8, Baike.com and others.ByteDance was founded by Zhang Yiming and Liang Rubo in March 2012. The company’s first product was Toutiao, a platform that provides news and informative content, using algorithmic models to tailor the displayed content on a user-by-user basis.In Ocotber 2023, ByteDance was valued at $223.5 billionfollowing an employee buyback program, according to Reuters. However, ByteDance has reached even higher valuations in the past, as it was valued above $400 billion at its peak.Can you buy TikTok stock?No, you cannot buy TikTok stock because ByteDance is not a publicly traded company.Still, there are indirect ways of gaining exposure to TikTok. This is because certain companies that have a stake in TikTok are publicly traded. By buying stock in these companies, you could benefit from the success of TikTok, although the companies also have many other holdings which could impact their overall performance.KKR & Co Inc is a global investment company based in the United States. The company has invested in ByteDance on two occasions, in 2018 (at a $75 billion valuation for ByteDance) and in 2020 (at a $180 billion valuation for ByteDance). KKR & Co Inc is traded publicly on the New York Stock Exchange under the ticker KKR. SoftBank is a Japan-based investment holding company. SoftBank made an undisclosed investment in ByteDance through its SoftBank Vision Fund in 2018. SoftBank is publicly traded on the Tokyo Stock Exchange.Potentially, you could also invest in TikTok through platforms like EquityBee and EquityZen, where investors can purchase stock in certain privately-held companies. Is TikTok a good investment?With 1 billion monthly active users, the potential upside of investing in TikTok is certainly significant. According to data from Business of Apps, TikTok’s annual revenue has grown from $63 million in 2017 to $9.4 billion in 2022. The TikTok app has seen 3.3 billion in cumulative downloads since its launch in 2017. It is currently the 5th-largest social media app, following Facebook, YouTube, WhatsApp, and Instagram.However, investors in TikTok are also facing significant risks, many of which are rooted in ByteDance being a Chinese company. TikTok is a controversial app, with several countries enacting or at least considering restricting or even banning the app. TikTok is banned outright in India, Iran, Pakistan and several other countries. Meanwhile, Belgium and Canada have banned TikTok from all work devices used by government workers.The United States has also been considering banning TikTok and putting pressure on ByteDance. For example, former U.S. president Donald Trump signed an order in 2020 that stipulated that TikTok would be banned if ByteDance didn’t sell or spin off TikTok within a specified time period. The order was later revoked by Joe Biden. More than 30 U.S. states prohibit government workers and contractors from having the TikTok app installed on government-issued devices.It’s also important to keep in mind that while TikTok’s success is very impressive, the competition is not sleeping. For example, online video giant YouTube has launched its YouTube Shorts platform, which has many parallels with TikTok. Will there be a TikTok IPO?During the Trump administration, there were rumors that ByteDance was considering spinning off TikTok as a separate company and conducting a TikTok IPO. However, this plan has not materialized. In August 2022, ByteDance CFO Julie Gao told employees the company had no plans to go public.At the moment, there is no reason to believe that ByteDance is planning to go the IPO route itself or even conduct a separate TikTok IPO. However, this could obviously change in the future, as a ByteDance IPO would provide a clear path for investors in the company to realize some of their gains.FAQsHow to buy TikTok stock?The average investor currently can’t buy TikTok stock because TikTok isn’t publicly traded, and neither is its parent company ByteDance. While there have been some rumors of a TikTok IPO in the past, ByteDance currently doesn’t appear to have plans to take the platform public.What is the TikTok stock price?The TikTok stock price is currently unknown because TikTok and its parent company, ByteDance, aren’t publicly traded. In 2023, ByteDance reportedly gave its employees an option to buy their stock in the company at a price of $155 per share.What is the TikTok stock ticker?Currently, TikTok is not traded publicly, so it does not have a stock ticker.Can you buy TikTok’s parent company stock?TikTok’s parent company, ByteDance, is not publicly listed, so regular investors can’t buy its stock at the moment.The bottom line: The average investor currently has no good way of investing in TikTokWhile TikTok is potentially a very attractive investment, the average investor can’t access it at the moment because ByteDance is not a publicly traded company. In the future, we could see a ByteDance IPO, but there’s also a chance that ByteDance could spin off the platform, opening the doors for a TikTok IPO.If you’re also interested in investing in other stocks, check out our article exploring the 10 best stocks to buy right #Meme #Tiktok #digitalcrypto #BinanceSquare #tia $BTC $ETH $BNB