Reddit co-founder Alexis Ohanian is working with billionaire Frank McCourt to try to buy TikTok’s U.S. operations.
Ohanian is part of a group called Project Liberty that is trying to buy TikTok. He is working as a strategic advisor for this group, which wants to change the platform using a blockchain-based, decentralized system to improve user control of privacy and data.
Ohanian shared the news on X, formerly Twitter, and expressed his excitement about the project, saying, “I’m officially one of the people trying to buy TikTok US — and bring it onchain.”Since he is emphasizing blockchain technology, the purchase could significantly change how TikTok operates in terms of data privacy and user control.
Project Liberty aims to use blockchain technology to protect people’s privacy, security, and digital independence. If they buy TikTok successfully, they will create a framework where users have more control over their personal information and content.
Ohanian, Reddit’s co-founder, jokingly recommended renaming it “TikTok: Freedom Edition” when asked about possible rebranding.
His comment highlights the initiative’s goal of encouraging openness and autonomy on social media platforms.
This purchase bid comes after a federal law signed by President Joe Biden in 2020. The law says that TikTok must separate from its parent company, ByteDance, which is based in China. If TikTok doesn’t do this by January 19, it will be completely banned in the United States. Because of this new law, ByteDance has had to look for possible buyers for its U.S. assets.
Project Liberty wants to give users control of their data and make TikTok more open using blockchain technology. But other big technology companies and investors also want to buy TikTok.The competition to buy TikTok is getting more intense as the deadline for Byte Dance to sell gets closer.
