If You Keep Cash In a U.S. Bank Account... Read This Now

The Treasury Department just issued a stunning warning: U.S. banks could lose up to $6.6 trillion of customer deposits as Americans rush into a new form of money... That's just been authorized under President Trump's highly controversial new law, S.1582. If you have any cash in a checking or savings account... this will affect you directly.

Trump's executive order gives TikTok a reprieve. What happens next?

HALELUYA HADERO
January 21, 2025

President Donald Trump has directed his Justice Department to pause enforcement of the TikTok ban until early April, but a host of questions remain - including whether Trump has the authority to issue such an order and if TikTok's China-based parent would be amenable to selling the popular social media platform.

In an executive order signed on Monday, Trump instructed the U.S. attorney general to not enforce the ban for 75 days while his administration determines "the appropriate course forward in an orderly way that protects national security while avoiding an abrupt shutdown" of TikTok.

Under a federal law that was upheld by the Supreme Court last week, TikTok's parent company ByteDance was required to sell the platform to an approved buyer by Sunday or face a nationwide ban. On Saturday evening, a few hours before the ban took effect, TikTok became unusable for U.S. users. But it came back online on Sunday, with TikTok crediting Trump for helping the platform after he vowed on social media to stall the ban.

The federal law, passed with bipartisan support in Congress last year, provides a 90-day extension if progress has been made toward a sale. But Trump's executive order now complicates matters for companies who could be liable for delivering TikTok's service to U.S. users.

Some -- at least as of now -- appear to be taking a cautious approach. On Tuesday, both Apple and Google, which operate the two most prominent app stores, did not offer TikTok or any other ByteDance-affiliated apps, such as Lemon8 or the video editing app CapCut, on their digital marketplaces.

Here's what we know:

Can Trump put a pause on the TikTok ban?

The Justice Department is generally tasked with enforcing the laws of the federal government. But Trump does not have the power to overturn a law that Congress passed and subsequently upheld by the Supreme Court.

The law does give the sitting president latitude on certain details, such as what would count as a "qualified divesture" of TikTok. But since an extension on a ban can only occur if "significant progress" has been made towards a sale of TikTok's U.S. platform, it's possible that Trump's order could face legal challenges.

On Tuesday, the Electronic Frontier Foundation, a digital rights organization that filed amicus briefs in support of TikTok's legal challenge against the statute, said it believed it would be "unconstitutional" to ignore the law.

"There are no winners here, unless Congress repeals this law," David Greene, the organization's Civil Liberties Director, said in a statement.

On Sunday, Sen. Tom Cotton of Arkansas posted a message on X listing a number of state and federal agencies, and private entities, that might be willing to go to court to get the ban enforced. However, it's unclear if anyone is planning to challenge Trump's order.

And Trump's order also warns possible challengers that because of "the national security interests at stake," attempts by parties to enforce the law "represents an encroachment on the powers" of the executive branch.

Is TikTok going to be sold?

Even if an extension faces and fails to withstand legal scrutiny, it will buy time for ByteDance and TikTok to figure out their next move.

Trump on Monday said he is looking to have the U.S. government broker a deal for 50% control of TikTok, adding that "every rich person" has called him about acquiring the social media platform.

A day prior, he proposed terms in which the U.S. would have a 50% stake "in a joint venture" that would be "set up between the U.S. and whichever purchase we so choose." But the details remain murky, and it was unclear whether Trump was proposing control of the app by the government or another U.S. entity.

According to TikTok, roughly 60% of the privately-held ByteDance is owned by global investors, such as General Atlantic and Susquehanna International Group. ByteDance employees and the company's founder, Zhang Yiming, also each have a 20% stake.

The technology company has not disclosed financial details for its subsidiaries, including TikTok's global or U.S. operation.

Even if an American company can acquire a 50% stake in TikTok, it's unclear how a Trump-orchestrated transaction would address some of the national security concerns that led lawmakers and the Biden administration to push for a divestment.

For example, Trump has not addressed whether he will allow ByteDance to keep controlling the TikTok algorithm that fuels what users see on the platform. The algorithm, which is updated and maintained by ByteDance engineers in China, has been one of the main concerns among supporters of the law.

Trump's executive order notes the administration must have a review period to assess government intelligence and the steps TikTok has taken to address Washington's concerns.

What happens next?

Most likely, lots of negotiations about the future of TikTok.

Last year, Beijing called the push in Washington to require a divestment of TikTok a "robbers" act. But on Monday, China signaled a possible softening of its stance.

Chinese Foreign Ministry spokeswoman Mao Ning said that business operations and acquisitions "should be independently decided by companies in accordance with market principles."

"If it involves Chinese companies, China's laws and regulations should be observed," Mao said on Monday.

President Trump has threatened to slap tariffs as high as 100% on Chinese goods if Beijing refuses to allow a sale of TikTok. If China doesn't approve the deal, Trump said on Monday he would consider it somewhat of a "hostile act."

After the law was passed last year, ByteDance said it did not have any plans to sell TikTok and then fought a legal battle against the statute for months. Representatives for the company and TikTok did not immediately respond Tuesday on whether they are willing to cut ties with each other within the new 75-day extension period.

In a note, Gabriel Wildau, a managing director of the Teneo consultancy, wrote that if amicable negotiations happen, Beijing might ultimately approve the export of TikTok's algorithm. However, a sale that excludes that technology might be more feasible legally and technically, Wildau wrote. Previously, Teneo had made a case that Beijing would not allow ByteDance to sell TikTok because of its concern for national dignity.

"This is all a game of high stakes poker," said Wedbush analyst Dan Ives. "TikTok is a chip on the table in broader U.S.-China negotiations."

_________________________

Associated Press writer Didi Tang contributed to this story.

Continue Reading...

Popular

Jim Cramer Recommends Buying This Industrial Stock, Calling It 'Way Too Cheap'

"Mad Money" star Jim Cramer discusses MP Materials, Resideo Technologies and Canadian National Railway on Friday, Sept. 12.

Co-Diagnostics Stock Plunges 28% In Pre-Market Despite Strategic Saudi Partnership

Co-Diagnostics (CODX) shares dropped 24.87% in pre-market trading after an 80.76% surge, despite announcing a strategic partnership.

The Fed Just Got Kneecapped - Here's What Happens Next - Ad

A new law, S.1582, has just kneecapped the Federal Reserve - handing select companies the legal authority to mint a new form of American money. Investors who move now could see 40X gains by 2032... while the rest are left scrambling, wondering how they missed it.

Plunging Mortgage Rates Could Light Up These 9 Stocks

Mortgage rates are dropping at their fastest pace in nearly a year. Homebuilders, loan servicers and retailers could benefit.

What to know about the fatal shooting of Charlie Kirk, the co-founder of Turning Point USA

, the CEO and co-founder of the conservative youth organization Turning Point USA, was Wednesday at an event at a Utah college.

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch. Discover the little known gold company that's already producing.

Trump Poised To Delay TikTok Deadline Again Amid US–China Tension: 'We May Let It Die'

President Donald Trump is expected to extend the TikTok divestment deadline for a fourth time as ByteDance, valued at $330 billion with surging revenue, faces U.S.–China tensions over its prized algorithm.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

Powerball Jackpot Soars To $1.1 Billion After No Winning Tickets, 5th Largest In History

The Powerball jackpot has reached $1.1 billion after no winner in Saturday's drawing, with nine tickets earning $1 million.

Tucker Carlson Asks OpenAI CEO Sam Altman If He Ordered Employee's Murder

During an interview with OpenAI CEO Sam Altman, Tucker Carlson suggested Altman may have played a role in the death of former employee Suchir Balaji.

Trump's Flashing Buy Signal? - Ad

Washington just opened tens of millions of federal acres for drilling and mining-a clear sign it's unlocking vast assets. Whitney Tilson says certain companies could be next, with past moves seeing gains up to 4,300%.

Kevin O'Leary Once Admitted He Wasn't The Best Dad — But The Shark Gave Himself A '10 Out Of 10' Score In One Key Area

Kevin O'Leary admitted he wasn't always present as a father but said financial stability made him a "10 out of 10" provider, sharing how tough-love lessons with his son and sacrifices echoed by Barack Obama and Mark Cuban highlight the trade-offs between family and success.

[Revealed] Trump's Next AI Executive Orders? - Ad

A White House insider with direct ties to Trump's inner circle just revealed what he calls "Manhattan II" - a potential $2.2 trillion AI initiative set to launch as soon as Oct 15. He says this could mirror past U.S. projects that minted fortunes - with small firms soaring 5,000% to 10,000% over two decades. And now he's giving away his #1 stock pick for free before the deadline.

Lutnick Hints At Fannie Mae, Freddie Mac IPO In 2025 To Show The 'Mark To Market' Worth To American Taxpayers—'Largest IPO In History'

Commerce Secretary Howard Lutnick suggested that the U.S. government is considering a public offering for Fannie Mae and Freddie Mac, a move that could be implemented this year.

Third Richest Woman In The World Eyes New York Giants Stake For Future Growth

One of the richest women in the world could have her eyes on more sports team ownership with a stake in the New York Giants.

Did This New AI Just Replace Google? - Ad

Elon Musk's xAI just launched a model that could disrupt Google and even challenge ChatGPT. For the first time, you can stake in xAI with as little as $500 - but you must move before the Oct 1 funding round.

Powerball, Mega Millions Missing Jackpots: What Happens To Unclaimed Lottery Tickets

Powerball is one of the most popular lottery games that can offer hundreds of millions of dollars, or in some cases billions, in potential winnings.

South Korean workers released after days of detention in Georgia return home

INCHEON, South Korea (AP) — A plane carrying more than 300 South Korean workers after days of detention in Georgia landed in South Korea on Friday.

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

NTSB describes the turbulence that threw passengers around the cabin on a Delta flight

Passengers who weren't buckled aboard a Delta Air Lines flight to Europe would have been violently thrown into the ceiling and back down to the floor in July in a thunderstorm over Wyoming, according to a new report on the incident.

Discover 3 Stocks Projected to Dethrone Nvidia (NVDA) - Ad

Futurist and Stock Analyst, Eric Fry, published a brand-new research report naming three outsider stocks have the power to completely disrupt the "seemingly invincible" Mag 7. For the time being, this research report is available through this page - at no charge.

New England's shrimp industry is struggling, with fishermen catching few in 2025

PORTLAND, Maine (AP) — There's an effort underway to bring New England shrimp back to seafood customers — but fishermen have found few of the crustaceans, and the fishing industry that harvests them may face an even longer shutdown.

Wall Street Legend: "Put $1,000 in This AI Stock" - Ad

Wall Street legend Marc Chaikin says: "If you have $1,000, put it into THIS stock now." Forget Nvidia & the Magnificent Seven-he just revealed a hidden AI play he calls his #1 pick. Don't follow the crowd-see the free ticker before Wall Street catches on.

Robinhood Stock Surges Over 7% In Monday Pre-Market: What's Going On?

The stock of Robinhood Markets Inc. (NASDAQ: HOOD) surged 7.46% during the Monday pre-market trading session following Friday's news that it will be included in the S&P 500.

Bitcoin At $114,000 Ahead Of Inflation Data: Here's How High It Could Go

Bitcoin (CRYPTO: BTC) is hovering around $114,000 on Thursday morning, with analysts eyeing further upside subject to a benign inflation data report to be released later in the day.

If You Keep Cash In a U.S. Bank Account... Read This Now - Ad

The Treasury Department just issued a stunning warning: U.S. banks could lose up to $6.6 trillion of customer deposits as Americans rush into a new form of money... That's just been authorized under President Trump's highly controversial new law, S.1582. If you have any cash in a checking or savings account... this will affect you directly.

Trump's Tariffs, Wall Street's Fear Gauge And A Veteran Economist's Dire Warning: This Week In Economy

Markets kicked off September on shaky ground as tariffs, weak jobs data, and warnings of a global collapse rattled investor confidence and fueled volatility.

Mortgage Fraud Is Now A Trump-Era Flashpoint—Here's Everything You Need To Know

Given the recent high-profile cases, Benzinga decided to take a closer look at what mortgage fraud is and how it can be committed.

The Fed Just Got Kneecapped - Here's What Happens Next - Ad

A new law, S.1582, has just kneecapped the Federal Reserve - handing select companies the legal authority to mint a new form of American money. Investors who move now could see 40X gains by 2032... while the rest are left scrambling, wondering how they missed it.

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch. Discover the little known gold company that's already producing.

Trump's Nvidia Export Deal Collides With AI GAIN Act — Chipmaker Warns New Bill Could Cripple Global Competition

Nvidia warned that a new U.S. bill could hurt its global edge by restricting AI chip exports, while growing pressure pushes tech firms like OpenAI to seek alternatives.

Don't look now, but there's an AI-generated Italian teacup on your child's phone. What does it mean?

In the first half of 2025, she racked up over 55 million views on TikTok and 4 million likes, mostly from tweens glued to their cellphones. Not bad for an AI-generated cartoon ballerina with a cappuccino teacup for a head.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright priceactionea.net
Privacy Policy | Terms of Service