Business software provider Oracle has confirmed it has struck a deal with ByteDance, the Chinese parent of TikTok, that would keep the massively popular video-sharing app running in the U.S. But like every other element of the arrangement, which is currently under review by the U.S. Treasury Department, the names of the firms and attorneys representing the Silicon Valley stalwart are currently under wraps.
Treasury Secretary Steven Mnuchin said that the Committee on Foreign Investment in the U.S. will be reviewing the proposal this week, and making a recommendation to President Trump about whether to approve or block the deal. While the app’s 100 million monthly American users must hope that CFIUS and the president are convinced that Oracle can serve as a “trusted technology provider” that will protect U.S. user data, a growing number of U.S. and international law firms have already identified the out-sized role the committee plays in the Trump era.
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