Blackstone Withdraws from TikTok US Stake Bid Amid Ongoing Trade Talks

Blackstone has abruptly withdrawn its bid for a stake in TikTok's US operations, a MOVE that coincides with heightened trade tensions between Washington and Beijing. The deal, once seen as a potential resolution to geopolitical friction, now faces further uncertainty as negotiations stall.

President TRUMP recently signaled optimism, claiming the parties had "pretty much" reached an agreement. His comments followed repeated deadline extensions for ByteDance to divest TikTok's US assets—a process now entangled in broader US-China relations. "I think it's good for them," Trump remarked, referencing Chinese President Xi Jinping, though he acknowledged unresolved diplomatic hurdles.

The withdrawal of Blackstone's investor group leaves the deal's future in limbo. Market observers note the development underscores how tech assets are becoming proxies in macroeconomic power struggles—a trend increasingly relevant to cryptocurrency valuations amid regulatory crosscurrents.