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Cryptopolitan 2025-01-15 21:42:56

Tron founder Justin Sun hints at TikTok acquisition amid U.S. ban speculations

Tron founder Justin Sun hints at TikTok acquisition amid U.S. ban speculations

The high-stakes battle over TikTok’s future in the United States has taken an unexpected twist. Tron founder and crypto billionaire Justin Sun is also heavily hinting at buying the wildly popular video-sharing app, which is facing a government-mandated sale or a potential ban. Sun caused quite a stir on the social media platform X when he said he could “just offer to buy TikTok.” He remarked in response to debates over the app’s uncertain future. TikTok’s parent company, ByteDance, based in Beijing, has been under pressure from the U.S. government due to security concerns. The app is currently seeking a Supreme Court ruling to overturn legislation that could compel ByteDance to divest its US business by January 19, 2025. In a hearing last week, the U.S. Supreme Court appeared likely to support the law even as President-elect Donald Trump and other politicians wanted the deadline to be extended. Crypto enthusiasts have applauded Sun’s potential decision as a great chance to incorporate blockchain into conventional platforms. “That would be truly epic, your Excellency,” one user noted . In a recent post, angel investor Anthony Pompliano, popularly known as “Pomp” on social media, pointed out this looming decision. He held a survey on X to determine the people’s attitudes and found out that people are equally divided. About 49.8% of the respondents think that TikTok will remain in the U.S. market; 36.4% think it will be banned. TikTok’s ticking clock This uncertainty has led to debates on who can buy the company and proposals that Elon Musk or Justin Sun may be the saviors. It has been alleged that Chinese authorities have been looking at Musk as a potential buyer. If this happens, it could change the course of TikTok in the tech and crypto space. “In my opinion, TikTok should not be banned in the US, even though such a ban might benefit platform X. – Musk The stakes couldn’t be higher. A U.S. ban would mean that TikTok cannot be downloaded through Apple and Google app stores; hence, current users would be left with an app that would gradually become dysfunctional. This is not the first time TikTok has been threatened to be shut down. The Trump administration requested a similar ban in 2020 on the grounds of the application being a threat to national security. However, the situation becomes even more complicated now that President-elect Donald Trump is set to begin work just one day after the possible ban. A crypto-TikTok crossover? TikTok’s connection with the cryptocurrency industry has grown in recent years. In December 2024, Sonic, a Solana-based gaming blockchain, launched token airdrops and gaming integrations via TikTok. It reached over 2 million users, proving that TikTok is highly effective in generating interest in the crypto niche. The platform has also been used to create viral trends, such as the 2020 #DogecoinTiktokChallenge, which saw the value of Dogecoin rise by 20% in a week. The Supreme Court’s ruling will determine whether TikTok will remain a social media platform or become extinct. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

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