Reddit Co-Founder Plans to Acquire TikTok US and Bring It to the Blockchain

Alexis Ohanian, co-founder of Reddit, confirmed his intention to participate in the acquisition of TikTok’s American operations to transform it into a blockchain-based platform. This initiative comes at a time when the Chinese app is facing a complete ban in the United States under the Trump administration.

Alexis Ohanian wants to acquire TikTok US

On March 3, Alexis Ohanian officially announced on X (formerly Twitter) his participation in the acquisition of TikTok US. “I am now officially one of the people trying to buy TikTok US – and to bring it on-chain,” he said.

This effort is being carried out in collaboration with Project Liberty, an initiative founded by Frank McCourt, where Ohanian will serve as a strategic advisor specializing in social media.

The project is based on the use of “Frequency,” a decentralized social network protocol built on the Polkadot infrastructure. This blockchain technology would allow users and content creators to retain ownership of their personal data and audience. “Users should own their data. Creators should also own their audience. Period,” emphasized Ohanian.

The ambition expressed by the consortium goes beyond a simple acquisition. They aim to “reorganize the platform to allow people to control their digital identities and data,” according to McCourt’s statements. This vision reflects a growing trend towards the decentralization of social networks amid concerns regarding data protection.

A race against time in a tense geopolitical context

Ohanian’s initiative comes at a time when the Trump administration is intensifying its pressure on ByteDance, accusing the company of massively collecting data from American users on behalf of the Chinese government. American lawmakers have also passed a law demanding that the Chinese company sell its American operations, or TikTok would be banned on American soil.

The race for acquisition is attracting other heavyweight contenders. Sources indicate that ByteDance is considering Elon Musk as a potential buyer for a deal estimated between 40 and 50 billion dollars. Paradoxically, the head of X has publicly opposed the ban on the platform, citing freedom of expression.

Ohanian is not a novice in blockchain. Under his leadership, Reddit invested in cryptocurrencies (Bitcoin, Ethereum, Polygon) and launched initiatives such as “Reddit Collectible Avatars”, a collection of NFTs based on Polygon. Despite some blockchain projects being abandoned by Reddit at the end of 2023, Ohanian remains convinced of this technology’s potential to transform social media.

In summary, this power struggle for control of TikTok perfectly symbolizes the growing geopolitical and technological tensions between Washington and Beijing. Regardless of the outcome, this restructuring could profoundly redefine data ownership models and governance of social platforms on a global scale.