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Oracle and Silver Lake part of TikTok investor group as Trump extends deal deadline

In this photo illustration, the logo of TikTok is displayed on a smartphone screen on April 5, 2025 in Shanghai, China. President Donald Trump on Tuesday extended the deadline for ByteDance to divest TikTok's U.S. business, which will be owned by an investor consortium that includes Oracle and Silver Lake, CNBC's David Faber reported. It's the fourth time Trump has extended the deadline. The extension, as described in an executive order, precludes the Department of Justice from enforcing a nat

Trump's willingness to let TikTok 'go dark' motivated China to make deal, Bessent says

Treasury Secretary Scott Bessent said Tuesday that President Donald Trump was willing to let TikTok cease operating in the U.S., and that it was "what turned the tide" in the deal framework with China. "President Trump made it clear that he would have been willing to let Tiktok go dark, that we were not going to give up national security in favor of the deal," Bessent told CNBC's "Squawk Box." TikTok parent company ByteDance is still looking at a Sept. 17 deadline to divest the app's U.S. oper

Trump's willingness to let TikTok go dark motivated China to make deal, Bessent says

Treasury Secretary Scott Bessent said Tuesday that President Donald Trump was willing to let TikTok go dark, and it was "what turned the tide" in the deal framework with China. "President Trump made it clear that he would have been willing to let Tiktok go dark, that we were not going to give up national security in favor of the deal," Bessent told CNBC's "Squawk Box." TikTok parent company ByteDance is still looking at a Sept. 17 deadline to divest the app's U.S. operations or potentially be

Trump's willingness to let TikTok go dark motivated China to make deal, says Bessent

U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer hold a press conference, following a meeting with Chinese Vice Premier He Lifeng, on the day of U.S.-China talks on trade, economic and national security issues, in Madrid, Spain, September 15, 2025. Treasury Secretary Scott Bessent said Tuesday that President Donald Trump was willing to let TikTok go dark, and it was "what turned the tide" in the deal framework with China. "President Trump made it clear that he

Trump Admin Says ‘Framework’ Reached for U.S. Owners to Take Control of TikTok

Treasury Secretary Scott Bessent said Monday that the U.S. has “a framework for a TikTok deal,” suggesting that some kind of agreement is imminent to allow the social media platform to continue operating in the U.S. despite a law passed in 2024 that sought to ban the app or force a sale. The comments from Bessent came as he and U.S. trade representative Jamieson Greer took questions from reporters after two days of meetings with Chinese officials in Madrid. “We believe we have an agreement. It

Remember That TikTok Ban? A Deal This Week Could Finally Bring Closure

The Trump administration is working on a deal with China to determine TikTok's fate, which could be finalized by the end of this week, according to reports citing Treasury Secretary Scott Bessent. President Trump has plans to meet on Friday with China's President Xi Jinping, and the two are expected to discuss the fate of the Chinese-owned social media platform. That means the deadline of Wednesday, Sept. 17, may pass before there's a definitive resolution on the matter. The key question is whe

New Bitcoin Purchases by the U.S. Government Still on the Table, Bessent Says

Bitcoin recently hit an all-time high of $124,400 and is up 93% from over a year ago. But fans of the cryptocurrency think it can go even higher, and those folks experienced a rollercoaster of emotions on Thursday after Scott Bessent gave conflicting signals about what the U.S. government had planned for the world’s most popular cryptocurrency. Initially, Bessent disappointed Bitcoin fans Thursday morning when he said the U.S. government’s so-called strategic Bitcoin reserve, first announced by