TikTok CEO Shou Zi Chew to attend Trump’s inauguration as US ban looms

Source Cryptopolitan

TikTok’s CEO Shou Zi Chew is heading to Washington, D.C., not for damage control but to watch Donald Trump’s second inauguration from one of the most coveted seats in the house.

According to reports, Chew will sit on the dais alongside tech giants like Elon Musk, Mark Zuckerberg, and Jeff Bezos.

Google’s Sundar Pichai will also attend, making it a veritable who’s who of tech leaders. The timing is almost poetic, as TikTok’s future in the U.S. hangs by a thread with a possible ban just days away.

This unexpected gathering comes after weeks of legal battles, high-level political discussions, and mounting pressure on ByteDance, TikTok’s parent company, to sell its U.S. operations to an American firm.

ByteDance hasn’t budged, and with Sunday’s deadline looming, the stakes couldn’t be higher for TikTok and its 170 million American users.

Trump’s change on TikTok and the ban’s complex politics

Donald Trump’s relationship with TikTok has been anything but consistent. Once a fierce critic of the app, calling it a national security threat and promising to ban it during his first term, Trump has recently changed his opinion.

During his campaign, TikTok became a powerful tool for rallying voters, a move that played no small part in his return to the White House. Now, as president-elect, Trump has filed an amicus brief with the Supreme Court, urging justices to delay enforcing the ban to allow his administration time to strike a deal.

“Why would I want to get rid of TikTok?” Trump posted on Truth Social, attaching a graphic showcasing his massive reach on the platform. His legal team argued that a negotiated resolution would protect free speech for millions of Americans who rely on TikTok to connect, entertain, and inform.

At the heart of the controversy is a law requiring ByteDance to divest TikTok’s U.S. operations, citing concerns over Chinese government influence and potential data misuse. Chief Justice John Roberts didn’t mince words during last Friday’s hearing, pointing out that TikTok’s parent company, based in Beijing, is subject to Chinese intelligence laws.

“Are we supposed to ignore the fact that the ultimate parent is, in fact, subject to doing intelligence work for the Chinese government?” he asked during arguments.

The Supreme Court hasn’t issued a ruling yet, leaving TikTok in limbo. If the law is upheld, ByteDance must sell its U.S. operations by Sunday or face removal from app stores like Google Play and Apple’s App Store. Without a sale, the app could remain operational but without critical updates, leaving users vulnerable to bugs and security risks.

Biden administration explores options

Outgoing President Joe Biden’s administration has also been working on a contingency plan to avoid TikTok going dark. An unnamed official hinted at the possibility of a temporary solution, saying, “Americans shouldn’t expect to see TikTok suddenly banned on Sunday.”

However, the White House made it clear that deferring enforcement isn’t an option, with one official stating, “Statutorily, we don’t believe we have the authority to do that.”

TikTok has considered several last-ditch options, including keeping the app running without updates or bug fixes. But ByteDance’s refusal to sell has left its U.S. subsidiary teetering on the edge. Meanwhile, millions of American users have already started downloading alternative apps from Chinese developers, raising similar national security concerns.

The law targeting TikTok passed as part of a $95 billion spending package, has drawn criticism from lawmakers like Rep. Ro Khanna and Sen. Ed Markey. Both have called on the White House to extend the deadline for divestment, arguing that a sudden ban would disrupt the lives of millions of Americans who rely on the app for everything from entertainment to business.

“I’m hopeful that President Biden will listen to the millions of voices who don’t want the lights to go out on this app,” Khanna said, pointing out the app’s significance in American culture and commerce. Sen. Markey shares those sentiments, saying he’s pressed White House officials to delay enforcement but has yet to receive a clear response.

Trump’s team eyes negotiated sale

Incoming Trump officials, including national security adviser Mike Waltz, have signaled that the president-elect is prepared to step in to preserve TikTok’s access to the U.S. market. Waltz told Fox News that TikTok’s importance to American users and its role as a campaigning tool make it a priority for the new administration.

Pam Bondi, Trump’s pick for attorney general, added to the uncertainty by refusing to commit to enforcing the ban during her Senate confirmation hearing. This hesitance, combined with Trump’s shifting position, suggests that a negotiated sale could be on the table.

Congressional Republicans, like Rep. Mike McCaul and Sen. John Kennedy, have made it clear that divestiture is the only viable path forward for TikTok. “They have to divest by law,” McCaul said, describing Trump as a “top negotiator” who could broker a deal that satisfies both national security concerns and the app’s American users.

Kennedy said, “What I’m hoping for is the owners of TikTok come forward and say, ‘We will never share Americans’ data with the Communist Party of China and here’s how that will be enforced: divesting from the parent company.’”

He warned that ByteDance’s current ownership poses a risk not just to Congress but to American children. As the Sunday deadline looms, all eyes are on Washington. The drama surrounding TikTok is as much about politics as it is about technology, with the app becoming a flashpoint in the ongoing battle between the U.S. and China.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changedRate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
Author  Irene Q.
Sep 23, Wed
Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
placeholder
【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonightThe 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
Author  Suzie
Sep 30, Wed
The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
placeholder
Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflationGold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday. 
Author  FXStreet
Oct 01, Thu
Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday. 
placeholder
United States Dollar Index sits near March 2025 highs, above 102.00 ahead of US NFPThe US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts buyers for the fifth straight day and climbs back above the 102.00 mark during the Asian session on Friday.
Author  FXStreet
Yesterday 02: 51
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts buyers for the fifth straight day and climbs back above the 102.00 mark during the Asian session on Friday.
placeholder
WTI Price Forecast: Dips to $91.50 as Middle East jitters limit lossesWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
Author  FXStreet
22 hours ago
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
goTop
quote