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TikTok has become a global giant. The US is threatening to rein it in

News Snapshot:

For much of the tech industry, this summer was a season of economic uncertainty – one that led to a drop in Bitcoin prices, hundreds of laid off workers, and a hiring freeze. For video platform TikTok, it was also the summer that US regulators crossed the aisle to come to something of a consensus: it was time for stricter rules. Since Buzzfeed reported in June that employees of TikTok’s Chinese parent company ByteDance had access to US consumer data, TikTok has been the focus of rare bipartisan calls for regulation and inquiry. Those inquiries became more pressing when in…

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