TikTok, Owned By China's ByteDance, Joins US Peers In Pulling Back From Russia


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TikTok, the popular video app owned by China’s ByteDance, said it was suspending live streaming and the addition of new content to its video service in Russia.

What Happened: The company attributed its move to Russia’s new “fake news” law, which was signed by President Vladimir Putin on Friday and comes attached with a possible 15-year jail term for offenders.

TikTok said on Twitter that the “safety of our employees and our users remain our highest priority" and clarified that its in-app messaging service would not be affected.

See Also: How To Buy Facebook (FB) Shares

Why It Matters: The White House has condemned the new media law that makes it illegal to report any event that could discredit Russia's military, according to a Reuters report

Russia has moved to block Facebook, the flagship social media platform of Meta Platforms Inc (NASDAQ: FB), after it passed the law, Reuters reported separately. 

Entertainment options for Russians have shrunk after Netflix Inc (NASDAQ: NFLXsaid “Nyet” to Russia and halted its operations there on Sunday.

See Also: The Companies Pulling Their Business From Russia After The Ukraine Invasion

 


Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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Posted In: NewsSocial MediaPoliticsTechMediaGeneralByteDanceFacebookFake NewsRussiaRussia-Ukraine WarTikTok