cryptocurrency widget, price, heatmap
arrow
Burger icon
cryptocurrency widget, price, heatmap
News/TikTok Dismisses Elon Musk Acquisition Rumors as 'Pure Fiction' Before US Potential Ban

TikTok Dismisses Elon Musk Acquisition Rumors as 'Pure Fiction' Before US Potential Ban

Van Thanh Le

Jan 14 2025

10 hours ago3 minutes read
Robot dances near musical notes, misinformation challenges

Legal Challenges, Security Concerns, and Crypto Misinformation

TikTok's position in the U.S. remains precarious as the clock ticks toward a critical January 19, 2025, deadline. With the Biden administration enforcing the Protecting Americans from Foreign Adversary Controlled Applications Act, ByteDance faces a stark choice: divest TikTok's U.S. operations or risk a nationwide ban. The legal framework requires app stores and web hosting providers to block TikTok if ByteDance fails to comply, placing the company under immense pressure to navigate this geopolitical minefield. 

Meanwhile, the U.S. Supreme Court deliberates over TikTok’s emergency appeal, which argues that banning the app would violate the First Amendment rights of its 170 million American users. Oral arguments were heard on January 10, with a ruling expected before the divestment deadline.

Concerns over data security and potential surveillance by the Chinese government have fueled these legislative measures. TikTok, boasting a staggering 1.04 billion monthly active users globally, collects an array of data, from location details to browsing habits. Critics fear such extensive data collection could be weaponized to sway political processes or orchestrate disinformation campaigns. 

TikTok has consistently denied such allegations, dismissing recent claims reported by Bloomberg about Elon Musk acquiring its U.S. operations as baseless. A spokesperson for the company labeled the rumors as “pure fiction,” underscoring the sensitivity surrounding its U.S. presence.

Adding to TikTok’s challenges, recent studies spotlight the platform’s role in spreading crypto-related misinformation. A CryptoNinjas analysis revealed that 68% of TikTok videos offering cryptocurrency advice were misleading. Among these, 58% promoted specific cryptocurrencies, such as Bitcoin (34%), XRP (21%), and Solana (16%), while 96% of memecoin-related content lacked disclaimers. Alarmingly, 35% of such videos promised unrealistic returns, with some encouraging viewers to invest specific amounts. These misleading posts averaged an impressive 840,000 views and 24,000 likes, magnifying concerns about the app’s influence.

key-findings-of-crypto-advice-on-tiktok-study-768x1032.png

ByteDance, meanwhile, has not remained idle. The company unveiled new AI-driven video generators, PixelDance and Seaweed, in Shenzhen. Although these tools are in private beta, their public release could bolster ByteDance’s technological edge amidst escalating geopolitical scrutiny. However, regulatory outcomes in the U.S. will largely determine their future availability.

As ByteDance approaches a pivotal decision, the implications of TikTok’s potential ban extend far beyond its massive American user base. Such a move could redefine U.S. policies on foreign-owned tech platforms, setting the stage for stricter regulations on data privacy and international app governance. Whether ByteDance complies or defies the U.S. mandate, the outcome will ripple through the tech industry, reshaping not only TikTok’s fate but also the broader dynamics of global digital culture.

This article has been refined and enhanced by ChatGPT.

cryptocurrency widget, price, heatmap
v 5.8.6
© 2017 - 2025 COIN360.com. All Rights Reserved.