President Donald Trump has signed off on a plan for TikTok's Chinese owner ByteDance to divest the U.S. operations of the wildly popular video app.

President Trump approved a deal transferring TikTok’s US operations to American investors, including Oracle, Silver Lake, and MGX, which will control 45%. ByteDance retains 19.9%. Oracle will oversee security and the algorithm.

U.S. President Donald Trump says that he’s received Beijing's nod on a deal that would see TikTok stay alive in the U.S.

TikTok is an addictive app that, for years, has provided the Chinese Communist Party with direct access to millions of Americans. Owned by Beijing-based ByteDance, TikTok is used to provide a monsoon of CCP-approved propaganda while handing the Chinese government access to the data of TikTok’s international users,

"We have a framework for a TikTok deal," Treasury Secretary Scott Bessent said after talks with Chinese officials in Spain.