TikTok’s CEO denies sharing US data with China

TikTok’s CEO denies sharing US data with China FMTNews FMTBusiness

TikTok has spent over US$1.5 billion on security efforts and hired Oracle to handle US user data.

He added that TikTok’s parent company ByteDance is not owned or controlled by any government or state entity. “Let me state this unequivocally: ByteDance is not an agent of China or any other country,” Chew will say to the committee. TikTok’s testimony before Congress on Thursday comes in the face of growing calls for the short video app to be banned across America and serves as one of the Chinese company’s most-detailed rebuttals to the accusations against it.

Under pressure from then-president Trump, ByteDance in late 2020 unsuccessfully sought to finalise a deal with Walmart and Oracle to shift TikTok’s US assets into a new entity and Trump then lost court battles seeking to ban TikTok. “Oracle has already begun inspecting TikTok’s source code and will have unprecedented access to the related algorithms and data models,” Chew’s testimony said.

Chew’s testimony says 60% of ByteDance is owned by global institutional investors including Blackrock, General Atlantic, and Sequoia, about 20% by the company’s founders, and about 20% owned by its employees “including thousands of Americans”.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

fmtoday /  🏆 5. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UBS CEO says bank can handle Credit Suisse takeover risksThe Swiss bank’s high capitalisation and strong liquidity position mitigate any downsides.
Read more »

QuickCheck: Is the Bursa Malaysia CEO's photo being misused for dubious purposes on social media?WHEN it comes to investment schemes, people often look to see if there are signs that it is legitimate before investing their hard-earned money.
Read more »

Fahmi: Appointment of DNB CEO to be decided by Ministry of Finance - SoyaCincauAlthough the Communications and Digital Ministry has oversight over DNB, the appointment of Ralph Marshall's successor will be decided by the Ministry of Finance.
Read more »

Communications Ministry: New DNB CEO will be appointed by Finance MinistryKUALA LUMPUR, March 20 — Communications and Digital Minister Fahmi Fadzil said that the Finance Ministry will be the one to decide who is going to fill the chief executive...
Read more »

The Finance Ministry will appoint a new DNB CEO soon | TechNaveToday, our Minister of Communications and Digital, Fahmi Fadzil told the media that a new Digital Nasional Berhad (DNB) CEO will be chosen soon.
Read more »

Twitch CEO Steps Down After 16 Years Following Controversy-Filled Year [Update: 400 Laid Off]Update: Twitch lays off 400 employees just a few days after its longtime CEO announced his resignation:
Read more »