Overview

• ByteDance is building a U.S.-specific version of TikTok, codenamed M2, for release on September 5 to meet the sell-or-ban requirements of the Protecting Americans from Foreign Adversary Controlled Applications Act.
• A consortium led by Oracle and other American investors is poised to acquire TikTok’s U.S. operations with ByteDance retaining a minority stake.
• President Trump said the investor deal is “pretty much” finalized and that he will begin talks with China to secure the necessary governmental approval.
• The existing global TikTok app will remain functional in the U.S. until March 2026 under the extended September 17 divestment deadline.
• ByteDance has denied reports that it has approved the Oracle-led sale, underscoring that final Chinese government sign-off remains unresolved.