No plans to sell TikTok: ByteDance on US law forcing ban or sale

TikTok-parent ByteDance clarified it has no plans to sell the social media platform after reports claimed it was looking at potential scenarios for selling TikTok without its algorithm. It would reportedly rather shut down TikTok than sell it in US. This comes after US President Joe Biden signed a bill that would ban TikTok if ByteDance fails to sell it.