TikTok and ByteDance Reach $400 Million Settlement
Prefer us on Google
TikTok, ByteDance, and its affiliated entities have agreed to pay $400 million to settle disputes regarding compliance with U.S. children's privacy laws, with $300 million to be paid immediately. The remaining $100 million is contingent upon a court order that will rescind the decree against Musical.ly. This dispute originated from a 2019 decree requiring parental consent for users under 13 and the removal of videos posted by children. In August 2024, the Department of Justice and the FTC sued ByteDance in federal court in California, accusing it of knowingly allowing minors to use standard accounts and collecting personal data. The allegations state that the company modified its registration process to make it harder to identify underage users and retained data useful for targeted advertising despite internal objections. The government noted that TikTok has made significant changes in ownership, management, compliance, and privacy practices since the lawsuit and has strengthened protections for young users. Following the restructuring, U.S. operations are incorporated into a joint venture controlled by Oracle, Silver Lake, and MGX Holdings, with ByteDance retaining 19.9%. Additionally, Senators Marsha Blackburn and Richard Blumenthal have demanded TikTok respond by September 1 regarding an internal test that resulted in 10% of U.S. users losing access to security features.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like
Tesla's Next-Generation Roadster May Debut This Month: Supercar with SpaceX Cold Air Thrusters Capable of 'Flying' Set to be Unveiled
Residents of Bryansk Explained How to Recognize Cryptocurrency Mining Neighbors
90% of Executives See No AI Benefits, Layoff Logic Spreads
FTC Urged to Investigate AI Companies' Book Destruction Practices
Is Bessent acting alone in the Treasuries? What the buyback means
AI Has Made Bitcoin Software a Target—This Group Is Fighting Back
How a former crypto user’s archived Binance data ended up in a foreign terrorism prosecution
Cryptocurrency in Banking Apps: What Will Change for Russians
Price Forecast for Chainlink (LINK) for 2023–2031
Robinhood Chain Generates $4 Million in Revenue, Experimenting with Profit Models
Fidelity Warns: The Prosperity of AI Agents May Not Equate to a Boom for Public Blockchains
Georgia, Cryptocurrency and Sanctions: How a British Schoolboy Uncovered Russia's Shadow Network
Russians Ask What Is Happening with Ethereum: Interest in ETH Surges
SEC proposes a path for crypto projects to raise $75 million and later end the token’s securities contract
From Buffett to Dan Bin: Top Seven Funds' 13F Reports Reveal New Round of AI Investment Rotation
Gold above $5,000? What two major banks project
Just 1% of wallets control $133M in midterm odds on Polymarket, creating a dangerous illusion of mass public consensus
Cardano: The 3 Deadlines to Know for the ADA Ecosystem
AI Competition Restructured: Pressure on Open Weight Costs
MANTRA Chain resumes blocks after Cosmos-EVM fix
Crypto: Eric Trump Signs Non-Control Commitment for Future World Liberty Bank
Real Asset Trading Reaches $1.45 Trillion, Emerging as a New Pillar On-Chain
NFT sales surge 170% to $95.5M on $55M Pandora trade
Treasury just put a deadline on offshore stablecoins’ access to US customers
Crypto VC funding: ZeroStack secures $1B, Ripple raises $275M
Ethereum Accelerates Work on zkEVM Security Ahead of December Deadline
30-Year Rates at Highest Since 2007: How AI Debt is Catching Up to Bitcoin
150MW Geothermal Power Supply for Google Data Centers
Trump Denies Directing Treasury to Intervene in Bond Market Amid $4 Billion Buyback
Macro Outlook for Next Week: US-Iran Sanctions, Jackson Hole, PCE, and Nvidia Earnings as Four Key Variables, Gold Aiming for $4,700
Tesla's Next-Generation Roadster May Debut This Month: Supercar with SpaceX Cold Air Thrusters Capable of 'Flying' Set to be Unveiled
Residents of Bryansk Explained How to Recognize Cryptocurrency Mining Neighbors
90% of Executives See No AI Benefits, Layoff Logic Spreads
FTC Urged to Investigate AI Companies' Book Destruction Practices
Is Bessent acting alone in the Treasuries? What the buyback means
AI Has Made Bitcoin Software a Target—This Group Is Fighting Back
