TikTok’s Chinese owner, ByteDance, signed agreements to hand control of the U.S. operations to a group of investors, including Oracle, to avoid a U.S. ban. The deal values the new U.S. company at around $14 billion, with American and global investors holding an 80.1% stake and ByteDance retaining 19.9%.

Questions remain about the deal, including the business relationships between the new joint venture and ByteDance. TikTok CEO Shou Zi Chew assured employees the joint venture would operate independently, with control over U.S. data protection and content moderation. It’s unclear if the algorithm has been transferred or is still owned by Beijing.

The deal, set to close on January 22, will end years of efforts to force ByteDance to divest its U.S. business over national security concerns. Oracle will serve as the trusted security partner, safeguarding U.S. user data in a secure cloud environment. Democratic Senator Elizabeth Warren raised concerns about the deal and Trump’s involvement in it.

Trump has a close relationship with Oracle CEO Larry Ellison and his family. The White House launched an official TikTok account in August. Trump credited TikTok with helping him win reelection last year. The deal includes the appointment of one of seven board members by ByteDance for the new entity, with Americans holding the majority of other seats.

Read more at Yahoo Finance: China’s ByteDance agrees deal to hand control of TikTok US app to new joint venture