Reddit Co-Founder Alexis Ohanian Aims To Bring TikTok US On-Chain To Offer Better Transparency, Accountability

Alexis Ohanian, co-founder of Reddit Inc. (NYSE:RDDT), announced his intentions to acquire TikTok’s U.S. operations and transition it to a blockchain-based platform on Tuesday.

What Happened: Ohanian confirmed the ambitious plan via an X post, stating, “I’m officially now one of the people trying to buy TikTok US — and bring it on-chain.”

The tech entrepreneur emphasized the importance of decentralizing the social media app so that creators and users have greater control. Ohanian expressed confidence that greater transparency and accountability will make TikTok not just fairer but greater in the future.

“We’re setting a new standard for what’s possible in digital communities. A TikTok for the people, by the people. Let’s see if we can pull this off,” Ohanian said.