Money Makers Mentor

Oracle Announces Deal with TikTok Parent Company ByteDance

On Monday Sept. 14, American Computer Technology Corporation Oracle confirmed a deal with ByteDance, the Chinese owner of TikTok. The deal announcement comes just weeks after the Trump administration ordered a TikTok divestiture in the U.S. The deal has yet to receive government approval.

In a statement, Oracle said “Oracle confirms Secretary Mnuchin’s statement that it is part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider.”

Concerns About Data Security

United States secretary of the treasury, Steven Mnunchin, said that the U.S. government had plans to review the deal sometime last week, according to CNBC. “I will just say from our standpoint, we’ll need to make sure that the code …

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