Happy Friday, Blockfolians!
This is a little outside our normal coverage purview, but this situation is so unique and late breaking we thought it worth your time.
TikTok has been at the epicenter of the growing tensions between the US and China, with President Donald Trump recently threatening to ban the uber-popular app. It appears that Trump is instead planning to force Chinese parent ByteDance to divest its US TikTok property. Outlets from WSJ to Bloomberg are reporting that the main company currently in talks is Microsoft.
TikTok is effectively the meme epicenter of the world. We even saw that recently when a campaign to pump Doge on TikTok actually made it an impact on the price.
Frankly, it is a wild reflection of the strange times we live in that national security concerns have come home to roost on an app where kids dance for laughs, and that because of that, Microsoft may be able to scoop the hottest social property on the block, but oh well - here we are!
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A Really Big Number We Should Be Paying Attention To
-4.3% vs +21%
That’s the amount the dollar fell in July (its worst selloff since 2010) vs the amount the BTC price grew
The memes are heating up!