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Biden revokes Trump's order to ban TikTok and WeChat
They’ll still face scrutiny from the US Department of Commerce
While the executive order by Donald Trump to ban TikTok and WeChat never came into force, the Biden administration has revoked it in favor of evidence-based investigations of foreign-controlled applications that could pose a security risk to Americans and their data.
Oracle beats out Microsoft to buy TikTok's US operations
The deal reportedly won't be structured as an outright 'sale,' though
Oracle has been selected to purchase TikTok's US operations over Microsoft — though, according to The Wall Street Journal, the deal won't be structured as a sale. Minutes before the news broke, Microsoft revealed that it wouldn't be involved in any deal even though it reportedly had Trump's blessing ahead of the app's anticipated ban.
Due to the impending TikTok ban in the US, Microsoft (and Twitter) is already in talks with parent company ByteDance and interested in purchasing the US portion of the business — that would likely be the only way a ban could be averted. Now it looks like another player has entered the field, as the Financial Times reports that Oracle is also interested in purchasing the hit social network.