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🇪🇺 NEW: ESMA clarified that the MiCA regulation does not ban $USDT in the EU but only restricts services facilitating its purchase. The regulator confirmed that storing and transferring USDT remains legal under EU law.

Turkish law firm challenges crypto payment ban Turkish law firm GlobalB will challenge Turkey’s crypto payment ban in a May 28 hearing, arguing it could boost innovation and investment. While trading is allowed, payments have been banned since 2021. According to Cointelegraph, a positive ruling may open doors for crypto platforms and new regulations.

Frank McCourt’s Project Liberty consortium has submitted a bid to acquire TikTok’s U.S. operations. The proposal integrates blockchain technology to enhance user data control and grant creators authority over their audience amid rising regulatory pressure. Frank McCourt announced the bid for TikTok’s U.S. assets in early January. ByteDance must sell these assets or face a ban under U.S. law. The bid meets national security requirements detailed in documents sent to the White House. Investors, including private equity funds and high-net-worth individuals, back the proposal. TikTok experienced a brief shutdown in the United States before a delay was granted. President-elect Trump issued a 75-day postponement for enforcing the ban. Vice President JD Vance now oversees the sale process. Competing bids include one led by tech entrepreneur Jesse Tinsley and investors such as a well-known YouTube personality and a Wyoming entrepreneur. Project Liberty will integrate its frequency blockchain protocol into TikTok’s U.S. platform. The protocol records data transactions on an immutable ledger. This system aims to secure user information and ensure data transparency. Blockchain technology creates tamper-proof records that verify each data transaction. A tweet by Wu Blockchain stated, “Users should own their data and creators should control their audience.” The tweet reinforces the bid’s focus on individual data control. The blockchain approach offers clear records and improves accountability on the platform. This method intends to modernize data management for millions of users. According to Reuters, Reddit co-founder Alexis Ohanian has joined Frank McCourt’s bid to acquire TikTok U.S. and bring it on-chain. He emphasized that users should own their data and creators should control their audience. If the deal goes through, TikTok will integrate Project… Alexis Ohanian has joined the bid as a strategic adviser specializing in social media. He is the co-founder of Reddit and a seasoned tech investor with broad industry experience. Ohanian will promote Project Liberty and validate its technical framework. His involvement is expected to appeal to both technical experts and everyday users. McCourt described the project as having sophisticated technology that caters to diverse audiences. Ohanian’s background in digital innovation strengthens the consortium’s market position. He supports the blockchain solution that secures user data effectively. His advisory role provides confidence to investors and regulators during this critical process. The bid now faces intense regulatory review as ByteDance evaluates its options. The outcome will determine TikTok’s operational future in the United States. All parties closely monitor the evolving process under strict government oversight. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

🚨Reddit Co-Founder Alexis Ohanian has confirmed joining Project Liberty's bid to acquire TikTok’s US operations. This development aims to transition the platform onto a blockchain-based system. ⛓️📱 📌This is to avert the app from Trump's nationwide ban. 🇺🇸🚫

Alexis Ohanian, co-founder of Reddit, has confirmed that he is among those looking to acquire TikTok’s U.S. operations. If the bid to purchase the short-form video platform’s U.S. business succeeds, Ohanian says the goal is to bring it on-chain. The Reddit co-founder noted this after Reuters reported that he had joined Frank McCourt’s bid to buy off TikTok U.S. Ohania, a prominent individual in the social media technology space and across Silicon Valley, will work with McCourt and Project Liberty as a strategic advisor. “TikTok has been a game-changer for creators, and it’s future should be built by them,” Ohanian added. Ohanian’s remarks on X follow McCourt’s comments that he welcomes the Reddit co-founder as part of the bid. He is an experienced individual whose input could be important in the bid to take over TikTok’s assets in the U.S., McCourt said. Most importantly, Ohanian understands the social media space and “where it’s evolving.” Project Liberty’s vision for TikTok U.S. includes integrating blockchain technology, giving users greater control over their data, its usage, and sharing. Commenting on this and how Ohanian could help, McCourt noted: “Where he can help mostly is validating but also socializing what we’re doing. This is a project which has very sophisticated technology at the core, and so you’re dealing with a very specific audience when it comes to demonstrating the validity of that technology and in how it works, and why it’s necessary.” TikTok is owned by ByteDance, a Chinese internet company. The app went off U.S. app stores briefly after a ban went into effect, with Apple and Google relisting it following President Donald Trump’s intervention. Traders on prediction markets see odds of a ban as being higher. Ohanian’s investment portfolio includes Instacart, Patreon and OpenSea.