TLDR

• Reddit co-founder Alexis Ohanian has joined Project Liberty’s bid to acquire TikTok’s US operations
• The plan involves bringing TikTok “onchain” using the Frequency blockchain protocol
• The goal is to give users ownership of their data and creators control of their audience
• Project Liberty founder Frank McCourt calls it “The People’s Bid” with a focus on transparency
• TikTok faces a potential US ban unless ByteDance sells its US assets due to security concerns

Reddit co-founder Alexis Ohanian has confirmed his involvement in an effort to purchase TikTok’s US operations.

The tech entrepreneur announced on March 3 that he has joined Project Liberty’s bid to acquire the popular social media platform with plans to move it “onchain” using blockchain technology.

“I’m officially now one of the people trying to buy TikTok US — and bring it onchain,” Ohanian posted on X (formerly Twitter). His announcement comes amid ongoing pressure from the US government for TikTok’s Chinese parent company ByteDance to either sell its US assets or face a shutdown in the country.

Exciting news for the digital world…

I’m officially now one of the people trying to buy TikTok US — and bring it on-chain.

TikTok has been a game-changer for creators, and it’s future should be built by them↓ pic.twitter.com/SPq1Ppv1kK

— Alexis Ohanian (@alexisohanian) March 4, 2025

Project Liberty was founded by American businessman Frank McCourt. The group aims to “rearchitect the platform to put people in control of their digital identities and data,” according to reports.

The bid has been dubbed “The People’s Bid” by McCourt. This name reflects the group’s stated mission to transform TikTok’s underlying structure to prioritize user data ownership and creator control.

Ohanian expressed strong views about the future of social media platforms. “Users should own their data. Creators should own their audience. Period,” he stated in his announcement.

If successful, the acquisition would implement a blockchain-based system called “Frequency.” This protocol is a decentralized social network that operates on Polkadot’s infrastructure and focuses on giving users ownership of their personal data.

“Frequency will empower these principles to become reality,” Ohanian explained. “And with transparency and accountability at the core, this new TikTok won’t just be fairer — it’ll be GREATER.”

The timing of the bid follows political developments regarding TikTok’s future in the United States. The app briefly shut down before President Donald Trump took office, who then revived it in one of his first official acts and granted a 75-day delay in enforcing a ban.

Ohanian is not the only high-profile figure involved in the acquisition attempt. “Shark Tank” investor and cryptocurrency advocate Kevin O’Leary has also joined Project Liberty’s effort to purchase TikTok’s US operations.

Reddit Crypto Reserves

This is not Ohanian’s first venture into blockchain technology. During his time at Reddit, the platform invested some of its cash reserves into Bitcoin, Ethereum, and Polygon, though it reportedly sold most of these holdings during the third quarter of 2024.

Reddit also launched blockchain initiatives under Ohanian’s influence. These included “Reddit Collectible Avatars” — a collection of Polygon-based non-fungible tokens (NFTs) that users could purchase for their profiles.

The platform previously experimented with a blockchain-based rewards system called “Community Points.” This Ethereum-based token system was designed to reward users for their contributions to specific subreddits before being discontinued in late 2023.

Ohanian has a personal history with cryptocurrency investments. Reports indicate he purchased 50,000 ETH at around $0.30 per token in 2014 and has used crypto to make personal purchases.

In 2021, Ohanian reportedly looked to build a decentralized social media network on the Solana blockchain. This project supposedly involved Sam Bankman-Fried, the now-incarcerated founder of FTX cryptocurrency exchange.

The Frequency blockchain that would power the new version of TikTok is designed with specific features for social media. It uses what Project Liberty describes as a “unique pricing model” to handle high-volume social interactions and make different applications built on the platform work together.

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

The post Reddit Co-Founder Alexis Ohanian Joins Bid to Acquire TikTok & Move It to Blockchain appeared first on Blockonomi.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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