TikTok has signed the deal backed by President Donald Trump to spin off its US assets to create a new entity with a group of mostly American investors, CEO Shou Chew told employees in a memo Thursday.

The deal follows months of the Trump administration attempting to reach an agreement with Chinese-based TikTok owner ByteDance.

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TikTok has signed an agreement to create a US joint venture under a deal brokered by President Donald Trump that leaves the app’s Chinese owner ByteDance with direct control of its core business ...

This trend has been amplified by the recent, high-profile elections of Zohran Mamdani in New York City and Abigail Spanberger in Virginia. Large ventures including Coinbase, Tesla, and SpaceX have ...