Reddit Co-Founder Joins Bid to Buy TikTok US, Plans Blockchain Integration

Reddit’s co-founder has joined a consortium led by billionaire Frank McCourt in an attempt to acquire TikTok's US operations.

This bold move seeks to transform the platform by incorporating blockchain technology, a development Ohanian is advocating as a strategic advisor.

In a post on X, Alexis Ohanian confirmed his role, expressing his ambition to bring TikTok “on-chain,” emphasizing the importance of empowering creators. He added that the platform should be shaped by its users, not corporations. McCourt highlighted Ohanian’s expertise in social media evolution as key to the success of their vision, branded as Project Liberty.

The proposed acquisition, known as the “People’s Bid,” aims to integrate blockchain to provide users and creators with more control over their data and audience. This shift would give creators ownership of their following, and users control over their personal data. The platform’s transformation will be powered by Frequency, a Polkadot parachain designed to promote transparency and accountability.

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Ohanian believes that with Frequency’s technology, TikTok will become a more equitable platform, better serving both creators and users. He emphasized that the integration of blockchain would make TikTok “greater” by embedding decentralized principles into its operations. The plan also aims to position the platform as one that operates under a more community-driven model.

As regulatory pressures mount on ByteDance to sell its US assets or face a potential ban, this acquisition effort gains further urgency. TikTok had faced a temporary shutdown in January as part of the divestment demands but resumed operations after a brief extension.

Alexander Stefanov