The White House is leading discussions on TikTok’s future in the US, focusing on a proposal for ByteDance’s largest non-Chinese investors to take control of the app’s American operations, according to two sources familiar with the discussions.

The plan includes spinning off TikTok’s US entity, reducing Chinese ownership below 20% to meet legal requirements and prevent a ban.

Susquehanna International Group and General Atlantic are leading the talks, with private equity firm KKR also involved. Oracle would manage US user data to ensure security from foreign access.

TikTok has faced scrutiny due to national security concerns, with a law mandating ByteDance to sell or face restrictions.

ByteDance denies allegations of Chinese influence, stating that US data is stored on Oracle-operated servers and content moderation is handled domestically.

Any agreement would likely have Oracle and ByteDance investors overseeing data collection and software updates, with ByteDance keeping a minority stake.