Crypto
TikTok forms new U.S. entity, ending six-year controversy
TikTok owner ByteDance has established a new U.S. entity, drawing a line under a political controversy that has lasted six years. TikTok will continue its U.S. operations through TikTok USDS Joint Venture LLC with non-Chinese investors. Adam Presser was appointed CEO and TikTok CEO Shou Zi Chew will sit on the board. Oracle, Silver Lake and Abu Dhabi-based MGX each secured 15 percent stakes.
