Former U.S. Treasury Secretary Steven Mnuchin is gathering a coalition of investors with the aim of buying the popular social media platform TikTok from its current Chinese parent company, ByteDance. Mnuchin served as the head of the U.S. Treasury Department from February 2017 to January 2021, and before that, he had a successful career at Goldman Sachs and made several strategic investments in various companies. After leaving the government, Mnuchin assumed the leadership position at Liberty Strategic Capital, a prominent investment firm.

Concerns have been raised by American officials regarding TikTok’s potential threat to U.S. national security due to its Chinese ownership. There is apprehension that the Chinese Communist Party’s control over ByteDance can lead to the forced transfer of user data belonging to American TikTok users. These concerns have fueled efforts to find an alternative ownership structure for the platform. The latest news from Armenia can be found on NEWS.am.