Tech Desk 
Feb 04, 2025
An undated image displaying TikTok in mobile screen. — Pexels
Operating in the country at the mercy of a last-minute respite granted by US President Donald Trump after he signed an executive order delaying the ban's implementation for 75 days, US TikTok seems to be around the corner of acquisition by the US.
It emerged on Tuesday that the US president expressed "great interest in TikTok", hinting at a potential buyout of the short-form video platform's US operations. as his administration is reportedly making significant strides towards the sale of the popular Chinese app.
“Great interest in TikTok! Would be wonderful for China, and all concerned,” Trump wrote in a post on Truth Social, as reported by Reuters.
The remarkable development comes two weeks after the renowned social media platform on January 19 briefly underwent a ban requiring ByteDance, its China-based parent firm, to divest the platform or hand it over to a US-based entity.
Validating his indication of TikTok US' acquisition, Trump has also signed an executive order to establish a sovereign wealth fund, which he said could be used to purchase TikTok.
"We're going to establish this within the next 12 months. We're going to monetise the asset side of the US balance sheet for the American people," Treasury Secretary Scott Bessent noted.
The US president has also directed the US Treasury and Commerce Departments to set up the sovereign wealth fund, for which government-owned assets would be utilised to generate revenue.
