With the prospect of TikTok disappearing in the U.S., creators on the app spent the week posting heartfelt goodbyes to their fans.
“I never even in a million years ever thought that anybody would ever just care about what I say,” Kimberly Rhoades, a creator of humorous videos, told her 3 million followers on Thursday. “If this app goes away, it was a beautiful, beautiful ride.”
A day later, the Supreme Court ruled 9-0 to uphold the law requiring a forced sale of TikTok by Chinese-parent ByteDance or a ban of the app in the U.S. The short-form video app that rose to mainstream popularity and changed the way Americans consumed social media while stuck indoors during the pandemic is set to go dark as soon as Sunday, meaning it could disappear from the web and be removed from app stores run by Apple and Google.
Congress passed the law, signed by President Joe Biden, citing national security concerns due to TikTok’s data collection practices and ties to China.
In a follow-up video on Friday, Rhoades hummed about 30 seconds of “Taps,” the military song often played at funerals. She ended by saying, “It was an honor making you laugh.”
TikTok’s fate in the U.S. now lies in the hands of President-elect Donald Trump, who originally favored a TikTok ban during his first administration, but has since flip-flopped on the matter. In December, Trump asked the Supreme Court to pause the law’s implementation and allow his administration “the opportunity to pursue a political resolution of the questions at issue in the case.”
In a Friday post on his social media app Truth Social, Trump wrote, “My decision on TikTok will be made in the not too distant future, but I must have time to review the situation. Stay tuned!” TikTok CEO Shou Chew is one of several tech leaders expected to be in attendance at Trump’s inauguration in Washington, D.C., on Monday. In a short video, Chew thanked Trump “for his commitment to work with us to find a solution that keeps TikTok available” in the U.S.
Giovanna Gonzalez of Chicago demonstrates outside the U.S. Capitol following a press conference by TikTok creators to voice their opposition to the “Protecting Americans from Foreign Adversary Controlled Applications Act,” pending crackdown legislation on TikTok in the House of Representatives, on Capitol Hill in Washington, U.S., March 12, 2024.
Craig Hudson | Reuters
Whether Trump ultimately finds a way to keep the app alive for American consumers, many TikTok creators have been preparing for an end, telling their fans to find them on other social platforms such as Google’s YouTube and Meta’s Facebook and Instagram, CNBC previously reported. RedNote, a Chinese social media app and TikTok look-alike, rose to the top of Apple’s app store on Monday, indicating that TikTok’s millions of users were seeking alternatives.
The creator migration appears to have picked up steam as the ban deadline approached. Influencers like Megan Cruz used their farewell videos as an opportunity to tout the attributes of TikTok.
‘Anyone had the potential to be a leader’
“People were engaged with things like BookTok and FilmTok and the idea of being engaged in culture on TikTok because you didn’t have to be a big creator,” said Cruz, in a video posted earlier this week. “There was incentive for people to join the conversation because anyone had the potential to be a leader in a conversation, to make a point that resonated with millions of people.”
The history of TikTok as a viral sensation dates back to 2017, when ByteDance spent about $1 billion to acquire a startup called Musical.ly. ByteDance combined Musical.ly and TikTok the following year.
TikTok began making headway in the U.S. around that time, primarily as an app that young people used for short dance clips and lip-syncing videos. TikTok’s big break came during the pandemic lockdowns of 2020, when consumers were looking for ways to pass the time and connect with others online.
The app was so successful that internet giants Meta and Google launched copycat services. Meta introduced Reels for U.S. Instagram users in August 2020 and then added it to Facebook. Google rolled out YouTube Shorts in the U.S. in March 2021.
Despite the competition, TikTok continued to grow.
TikTok has about 115 million monthly active users in the U.S., compared to 258 million for YouTube, 253 million for Facebook and 131 million for Instagram, according to market intelligence firm Sensor Tower.
Though TikTok lags its rivals in total users, the Chinese app has become a hub for creators, defined as users with more than 1,000 followers. TikTok has nearly 8.5 million users in the U.S. who fit that category, compared with about 5.2 million on Instagram and 1.1 million on YouTube, according to HypeAuditor, an influencer marketing platform.
Businessman Frank McCourt’s internet advocacy group Project Liberty announced on Jan. 9, that it had submitted a proposal to buy TikTok from ByteDance at undisclosed terms. McCourt told CNBC on Friday that “we, I believe, are the only bidder” that meets the necessary criteria of disentangling the technology from the Chinese algorithm.
If ByteDance decides to sell, potential buyers may have to spend between $40 billion and $50 billion, according to a valuation estimate of TikTok’s U.S. operations from CFRA Research Senior Vice President Angelo Zino.
Some creators, anticipating a shutdown, are letting their fans know where they can find them. Others are encouraging users not to follow them on Meta’s services, or encouraging them to take a break from social media altogether.
“I’ve been hearing a lot of people say that once TikTok is gone, you’re just going to cut social media out of your life and I encourage that – it’ll probably be really healthy for you,” said Jack Ryan, a creator with 2 million TikTok followers, in a video on Thursday thanking his fans for their support.
“I do have an Instagram. I do have a sizable following on there, but don’t follow me on Instagram,” Ryan added. “Don’t go on there. It’s brain rot. It’s gross.”
Jonas Gindin, who has more than 400,000 Tiktok followers, said in a video that a year and a half ago he was waiting tables while trying to become an actor in Los Angeles. He wasn’t having much luck.
After finding a fanbase on TikTok, Gindin said he’s managed to produce content full-time on the app.
“If we’re cooked, it’s been a ride, man,” Gindin said. “Anytime I see someone comment something positive, it means the world, bro.”
Circle, the company behind the USDC stablecoin, has filed for an initial public offering with the U.S. Securities and Exchange Commission.
The S1 lays the groundwork for Circle’s long-anticipated entry into the public markets.
While the filing does not yet disclose the number of shares or a price range, sources told Fortune that Circle plans to move forward with a public filing in late April and is targeting a market debut as early as June.
JPMorgan Chase and Citi are reportedly serving as lead underwriters, and the company is seeking a valuation between $4 billion and $5 billion, according to Fortune.
This marks Circle’s second attempt at going public. A prior SPAC merger with Concord Acquisition Corp collapsed in late 2022 amid regulatory challenges. Since then, Circle has made strategic moves to position itself closer to the heart of global finance — including the announcement last year that it would relocate its headquarters from Boston to One World Trade Center in New York City.
Read more about tech and crypto from CNBC Pro
Circle is best known as the issuer of USDC, the world’s second-largest stablecoin by market capitalization.
Pegged one-to-one to the U.S. dollar and backed by cash and short-term Treasury securities, USDC has roughly $60 billion in circulation.
Circle is best known as the issuer of USDC, the world’s second-largest stablecoin by market capitalization.
Pegged one-to-one to the U.S. dollar and backed by cash and short-term Treasury securities, USDC has roughly $60 billion in circulation. It makes up about 26% of the total market cap for stablecoins, behind Tether‘s 67% dominance. Its market cap has grown 36% this year, however, compared with Tether’s 5% growth.
Coinbase CEO Brian Armstrong said on the company’s most recent earnings call that it has a “stretch goal to make USDC the number 1 stablecoin.”
The company’s push into public markets reflects a broader moment for the crypto industry, which is navigating renewed political favor under a more crypto-friendly U.S. administration. The stablecoin sector is ramping up as the industry grows increasingly confident that the crypto market will get its first piece of U.S. legislation passed and implemented this year, focusing on stablecoins.
Stablecoins’ growth could have investment implications for crypto exchanges like Robinhood and Coinbase as they integrate more of them into crypto trading and cross-border transfers. Coinbase also has an agreement with Circle to share 50% of the revenue of its USDC stablecoin.
The stablecoin market has grown about 11% so far this year and about 47% in the past year, and has become a “systemically important” part of the crypto market, according to Bernstein. Historically, digital assets in this sector have been used for trading and as collateral in decentralized finance (DeFi), and crypto investors watch them closely for evidence of demand, liquidity and activity in the market.
More recently, however, rhetoric around stablecoins’ ability to help preserve U.S. dollar dominance – by exporting dollar utility internationally and ensuring demand for U.S. government debt, which backs nearly all dollar-denominated stablecoins – has grown louder.
A successful IPO would make Circle one of the most prominent crypto-native firms to list on a U.S. exchange — an important signal for both investors and regulators as digital assets become more entwined with the traditional financial system.
The Hims app arranged on a smartphone in New York on Feb. 12, 2025.
Gabby Jones | Bloomberg | Getty Images
Hims & Hers Health shares closed up 5% on Tuesday after the company announced patients can access Eli Lilly‘s weight loss medication Zepbound and diabetes drug Mounjaro, as well as the generic injection liraglutide, through its platform.
Zepbound, Mounjaro and liraglutide are part of the class of weight loss medications called GLP-1s, which have exploded in popularity in recent years. Hims & Hers launched a weight loss program in late 2023, but its GLP-1 offerings have evolved as the company has contended with a volatile supply and regulatory environment.
Lilly’s weekly injections Zepbound and Mounjaro will cost patients $1,899 a month, according to the Hims & Hers website. The generic liraglutide will cost $299 a month, but it requires a daily injection and can be less effective than other GLP-1 medications.
“As we look ahead, we plan to continue to expand our weight loss offering to deliver an even more holistic, personalized experience,” Dr. Craig Primack, senior vice president of weight loss at Hims & Hers, wrote in a blog post.
A Lilly spokesperson said in a statement that the company has “no affiliation” with Hims & Hers and noted that Zepbound is available at lower costs for people who are insured for the product or for those who buy directly from the company.
In May, Hims & Hers started prescribing compounded semaglutide, the active ingredient in Novo Nordisk‘s GLP-1 weight loss medications Ozempic and Wegovy. The offering was immensely popular and helped generate more than $225 million in revenue for the company in 2024.
But compounded drugs can traditionally only be mass produced when the branded medications treatments are in shortage. The U.S. Food and Drug Administration announced in February that the shortage of semaglutide injections products had been resolved.
That meant Hims & Hers had to largely stop offering the compounded medications, though some consumers may still be able to access personalized doses if it’s clinically applicable.
During the company’s quarterly call with investors in February, Hims & Hers said its weight loss offerings will primarily consist of its oral medications and liraglutide. The company said it expects its weight loss offerings to generate at least $725 million in annual revenue, excluding contributions from compounded semaglutide.
But the company is still lobbying for compounded medications. A pop up on Hims & Hers’ website, which was viewed by CNBC, encourages users to “use your voice” and urge Congress and the FDA to preserve access to compounded treatments.
With Tuesday’s rally, Hims and Hers shares are up about 27% in 2025 after soaring 172% last year.
Meta CEO Mark Zuckerberg holds a smartphone as he makes a keynote speech at the Meta Connect annual event at the company’s headquarters in Menlo Park, California, on Sept. 25, 2024.
Manuel Orbegozo | Reuters
Meta’s head of artificial intelligence research announced Tuesday that she will be leaving the company.
Joelle Pineau, the company’s vice president of AI research, announced her departure in a LinkedIn post, saying her last day at the social media company will be May 30.
Her departure comes at a challenging time for Meta. CEO Mark Zuckerberg has made AI a top priority, investing billions of dollars in an effort to become the market leader ahead of rivals like OpenAI and Google.
Zuckerberg has said that it is his goal for Meta to build an AI assistant with more than 1 billion users and artificial general intelligence, which is a term used to describe computers that can think and take actions comparable to humans.
“As the world undergoes significant change, as the race for AI accelerates, and as Meta prepares for its next chapter, it is time to create space for others to pursue the work,” Pineau wrote. “I will be cheering from the sidelines, knowing that you have all the ingredients needed to build the best AI systems in the world, and to responsibly bring them into the lives of billions of people.”
Vice President of AI Research and Head of FAIR at Meta Joelle Pineau attends a technology demonstration at the META research laboratory in Paris on February 7, 2025.
Stephane De Sakutin | AFP | Getty Images
Pineau was one of Meta’s top AI researchers and led the company’s fundamental AI research unit, or FAIR, since 2023. There, she oversaw the company’s cutting-edge computer science-related studies, some of which are eventually incorporated into the company’s core apps.
She joined the company in 2017 to lead Meta’s Montreal AI research lab. Pineau is also a computer science professor at McGill University, where she is a co-director of its reasoning and learning lab.
Some of the projects Pineau helped oversee include Meta’s open-source Llama family of AI models and other technologies like the PyTorch software for AI developers.
Pineau’s departure announcement comes a few weeks ahead of Meta’s LlamaCon AI conference on April 29. There, the company is expected to detail its latest version of Llama. Meta Chief Product Officer Chris Cox, to whom Pineau reported to, said in March that Llama 4 will help power AI agents, the latest craze in generative AI. The company is also expected to announce a standalone app for its Meta AI chatbot, CNBC reported in February.
“We thank Joelle for her leadership of FAIR,” a Meta spokesperson said in a statement. “She’s been an important voice for Open Source and helped push breakthroughs to advance our products and the science behind them.”
Pineau did not reveal her next role but said she “will be taking some time to observe and to reflect, before jumping into a new adventure.”