MOSCOW: TikTok's revenues in the United States spiralled up to a record US$16 billion last year as the social media giant braces for the possibility o...
: TikTok's revenues in the United States spiralled up to a record US$16 billion last year as the social media giant braces for the possibility of being banned in US territory this year, reported Sputnik quoting a Financial Times reporton Friday, citing people familiar with the matter.
The bill, however, still needs to be approved by the Senate and signed into law by US President Joe Biden. A ban in the US would cause serious consequences for both TikTok and its parent company, as numerous US influencers leaving the platform could decrease its attractiveness for users in other countries as well, the Financial Times said.