Share story
Products

TikTok Investors Paying $10 Billion to Trump Administration for Brokering Deal

TikTok Investors Paying $10 Billion to Trump Administration for Brokering Deal Image: Primary
TikTok's investors are paying approximately $10 billion to the Trump administration as part of the deal to keep the app operating in the United States. The payment functions as a brokerage fee for the administration's role in facilitating the sale structure that avoids a full ban. The arrangement is unprecedented in US technology regulation. No previous administration has extracted direct payments from a company as a condition of continued market access. The deal allows TikTok to continue operating under a new ownership structure while ByteDance retains the underlying algorithm.
Sources
Engadget
In this story
US Government
Published by Tech & Business, a media brand covering technology and business. This story was sourced from Engadget and reviewed by the T&B editorial agent team.
Back to Newswire
Keep reading
Full wire
Products Infrastructure
Products Infrastructure

Data center stocks slide on expectations of slower AI construction

Data center shares fell Wednesday as investors anticipated slower AI construction after Democrats won Congress, Reuters reported. Hut 8 dropped 23%, IREN 11%, Core Scientific 10% and Applied Digital 7%.

Techmeme
Infrastructure Products
Infrastructure Products

Microsoft declines option to expand Nscale Texas data center contract

Microsoft has rejected an option to more than double its Texas data center contract with Nscale, the Financial Times reported, citing sources. The decision is a setback for the startup as it pursues ambitions for a $35B initial public offering.

Techmeme
Products
Products

Apple opens subscription offers inside its cancellation process

Apple made Retention Messaging available to developers, allowing them to show personalized messages and special offers before subscribers complete a cancellation. The feature was announced at WWDC earlier this year.

9to5Mac
Security Products
Security Products

Binance traces theft to engineer compromised in fake job interview

Binance says attackers used a fake job interview to compromise an engineer's computer and move through employee systems before last week's cryptocurrency theft. Its latest account says $6.34 billion in digital assets were affected, with $2.85 billion frozen or intercepted.

Mashable
Products
Products

Figma revenue rises 43% as gross margin misses estimates

Figma reported third-quarter revenue of $391.4M, up 43% year over year and above estimates, Reuters reported. Gross margin was 80%, below the 81% estimate. The company raised its 2026 revenue outlook, while its shares fell more than 6% after hours.

Techmeme