Alexis Ohanian, co-founder of Reddit, has teamed up with billionaire Frank McCourt’s Project Liberty to try and buy TikTok’s U.S. business.
Ohanian will serve as a strategic advisor for “The People’s Bid for TikTok,” an initiative that aims to rebuild the platform using blockchain technology for a more decentralized structure.
Ohanian announced his involvement on X, saying he’s now part of the group seeking to purchase TikTok U.S. and integrate it with blockchain.
Project Liberty plans to use blockchain to enhance privacy, security, and user control on the platform if their bid is successful. When asked about a potential name change, Ohanian jokingly suggested “TikTok: Freedom Edition.”
This acquisition attempt comes after a federal law, signed by President Biden, mandated that TikTok separate from its Chinese parent company, ByteDance, by January 19 or face a U.S. ban.
Project Liberty’s focus on user data control and blockchain transparency could significantly alter TikTok’s future. However, they face strong competition from other tech companies and investors as the deadline for ByteDance’s divestment nears.
