Michaela
Alexis Ohanian, co-founder of Reddit, has backed a bid to acquire TikTok U.S. operations, aiming to decentralize the platform and put users in control of their data.
In a post on X, Ohanian revealed that he is among those involved in efforts to transition TikTok to a blockchain-based platform. “I’m officially now one of the people trying to buy TikTok U.S.,” Ohanian wrote.
Ohanian has joined billionaire Frank McCourt and Project Liberty in their bid to acquire TikTok’s U.S. operations. The plan aims to shift the platform from centralized data control to a blockchain-based system, allowing users — not corporations — to manage their own data.
“TikTok has been a game-changer for creators, and its future should be built by them,” Ohanian further explained.
Reuters first reported Ohanian’s involvement on March 3, with McCourt confirming that Ohanian would serve as a strategic adviser, bringing his expertise in social media to the initiative.
Project Liberty’s plan focuses on implementing “Frequency,” a decentralized social network protocol powered by Polkadot.
Ohanian stated that Frequency will help establish a decentralized model where users control their data and creators have full ownership of their audience, turning these principles into reality. “With transparency and accountability at the core, this new TikTok won’t just be fairer—it’ll be GREATER,” Ohanian shared.
McCourt emphasized Ohanian’s key role in championing and validating the vision of a Web3-powered TikTok, noting that his background in social media is a significant asset.
“He has that broad portfolio of experience … of where social media was and, I think, a keen understanding of where it’s evolving,” McCourt said.
Ohanian is no stranger to blockchain technology, having been an early investor in crypto and Web3 projects. Through his venture firm, Seven Seven Six, he has backed blockchain startups, NFT platforms, and decentralized networks. His involvement in the TikTok bid aligns with his long-standing interest in decentralization and user empowerment in digital spaces.
As regulatory scrutiny and national security concerns continue to cast doubt on TikTok’s future in the U.S., the joint bid by McCourt and Ohanian presents a bold alternative—one that could reshape social media ownership through Web3 technology.
Read More
- Trump Reveals Microsoft in Talks to Acquire TikTok Amid Ban Threat
- Reddit NFT Community On Edge After Bianca Wyler Departs
- #MakeNowMeme Lets TikTok Users Make Their Own Memecoins
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
