Oracle confirms TikTok deal, no U.S. government approval yet

Oracle has confirmed that it has made a deal with ByteDance over a TikTok partnership, the company announced on Monday.

"Oracle confirms Secretary Mnuchin’s statement that it is part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider," so Oracle in a statement.

"I will just say from our standpoint, we’ll need to make sure that the code is, one, secure, Americans’ data is secure, that the phones are secure and we’ll be looking to have discussions with Oracle over the next few days with our technical teams," so Secretary Steven Mnuchin, who said that the government is planning to review the deal this week.