Billionaire investor Frank McCourt is reportedly considering purchasing TikTok, as ByteDance faces pressure from the United States government to shut down or sell its US operations by 19 January.

ByteDance says TikTok is not for sale.

McCourt’s interest ties into his broader tech ambitions, specifically through Project Liberty, a US$500 million effort to decentralize social networks.

The initiative aims to give users more control, reducing the influence of large tech companies.

The US government’s scrutiny of ByteDance arises from data security and national security concerns. Despite a law signed by President Joe Biden, TikTok is challenging the order.