TikTok has reached an agreement with investors to form a new independent US entity, TikTok USDS Joint Venture LLC, to circumvent a ban and ensure compliance with US cybersecurity laws. This venture, primarily owned by American investors, will manage US user data and content moderation, with Adam Presser as CEO. The deal follows years of scrutiny over TikTok’s ties to its Chinese parent company, ByteDance, amid national security concerns. Former President Trump praised the agreement, claiming it secures TikTok’s future in the US.
