Reddit co-founder Alexis Ohanian has joined forces with billionaire Frank McCourt in a bid to acquire TikTok’s U.S. operations.
Acting as a strategic adviser, Ohanian is part of Project Liberty’s initiative, “The People’s Bid for TikTok,” which aims to revamp the platform with a blockchain-based, decentralized infrastructure.
Ohanian announced the move on X (formerly Twitter), stating, “I’m officially now one of the people trying to buy TikTok US — and bring it on-chain.”
If the bid is successful, Project Liberty aims to use blockchain technology to ensure privacy, security, and digital independence are integral to the platform. When asked what he would rename TikTok, Ohanian jokingly responded, “TikTok: Freedom Edition.”
The acquisition effort follows a federal bill passed last year, signed into law by former President Joe Biden, which requires TikTok to sever ties with its China-based parent company, ByteDance, by January 19 or face a nationwide ban in the U.S.
With Project Liberty advocating for user data control and blockchain-backed transparency, this bid could reshape TikTok’s future—but it faces stiff competition. Other tech giants and investors are also eyeing the platform as the deadline for ByteDance’s divestment approaches.
