00:00 It's Benzinga, and here's what's on the block.
00:02 The House passed legislation that would ban TikTok in the U.S. if its China-based owner,
00:06 ByteDance, doesn't sell its stake within one year. The bill was added to a larger
00:10 foreign aid package providing funding for Ukraine, Israel, and Taiwan. It is now headed
00:15 to the Senate. TikTok is expected to challenge the bill in court, arguing it violates the
00:19 First Amendment rights of its 170 million U.S. users. TikTok CEO Xiao Zhiqiu pledged in a video
00:25 to continue fighting for the platform, emphasizing the company's commitment to defending its interests
00:30 in the community it has built. The company has suggested that it might pursue legal action,
00:34 arguing that it infringes on the First Amendment rights of its millions of users.
00:38 For all things money, visit Benzinga.com.
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