Alexis Ohanian, one of the co-founders of Reddit, has joined a bid to acquire the operations of TikTok in the US. Led by billionaire Frank McCourt, this move aims to integrate blockchain technology into the platform. Ohanian, in a strategic advisory role, will leverage his experience in social media. The acquisition bid, known as a ‘people’s bid,’ aims to empower users and content creators to own their audience and data using decentralized ledger technology. Frequency, a blockchain protocol token, is set to support this transformation. This acquisition effort comes amid increasing regulatory pressures on ByteDance to divest its American assets. Ohanian emphasized that this approach will turn TikTok into a platform controlled by its user community, not corporate entities.
