ByteDance and TikTok Are Separate Entities

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TikTok has invested in this new partnership with Oracle called Project Texas, which will sort of ensure that American user data is kept in the US. The Chinese government said they would firmly oppose a forced sale of TikTok, the US arm. Beijing has certain export laws that it can wield to try to prevent a sale. That's really sort of the gold, the treasure that China wants to keep and protect.

TikTok’s CEO faced bruising questioning in US Congress over the social media app’s links to its Chinese parent company ByteDance, short seller Hindenburg Research has accused payments group Block of artificially inflating its user numbers and facilitating fraudulent transactions, and the wipeout of $17bn of Credit Suisse bonds has sparked panic among rich Asian investors who had loaded up on the risky bank debt.

Mentioned in this podcast:

TikTok chief faces hostile Congress in bid to fight off US ban

Hindenburg Research shorts Jack Dorsey’s payments group Block

Asia investors ‘gobsmacked’ by $17bn Credit Suisse bond wipeout

Crypto fugitive Do Kwon arrested in Montenegro, says interior minister

Credit: Cash App Music Video Compilation (Hindenburg Research)

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