As Alexis Ohanian announced on his X, he officially joined Project Liberty’s bid to acquire TikTok in the U.S. and stated he would bring it “on-chain.”.
Reddit Co-Founder announcement
“He has that broad portfolio of experience… of where social media was and, I think, a keen understanding of where it’s evolving,” Frank McCourt, billionaire American businessman and Project Liberty founder, told Reuters of the Reddit co-founder. Right after that, Ohanian shared his thoughts on X after McCourt welcomed the Reddit co-founder to the team of TikTok Acquisition. According to McCourt, Ohanian brings valuable experience that could play a key role in the effort to acquire TikTok’s U.S. assets.
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
He also firmly stated his aim to integrate this social media platform with blockchain technology by “bring it on-chain.”. As a co-founder of Reddit, one of the biggest social media sites in the world, he confirmed on X the fact that creators should own their audience, while users own their data, as the driving force behind Ohanian’s announcement of bringing it on-chain.
To make this vision a reality, Ohanian explained that McCourt plans to use Frequency, a layer-1 network designed to give users full control over their social data. Originally launched as a Polkadot parachain, Frequency is built as part of the Decentralized Social Networking Protocol (DSNP), an open protocol developed by McCourt’s Project Liberty. This initiative aims to set a new standard for social media and data ownership.
“Frequency will empower these principles to become reality. And with transparency and accountability at the core, this new TikTok won’t just be fairer—it’ll be GREATER.” posted Ohanian with a strong belief in the onchain future of TikTok and Frequency.
Expected impact on the crypto market
Ohanian is no stranger to the crypto space, actively investing in blockchain and cryptocurrency through his venture capital firm, Seven Seven Six. His firm has participated in fundraising for major companies such as Bored Ape Yacht Club creator Yuga Labs, Doodles, Rainbow, and Sorare. As Reddit’s co-founder, the crypto market is expecting a significant impact after his latest move.
- Increasing blockchain adoption in social media: If the deal succeeds, TikTok—with over 170 million users in the U.S.—could become one of the first major social media platforms to fully integrate blockchain technology. This would boost public awareness and adoption of blockchain, expanding its perception beyond financial applications like Bitcoin and Ethereum.
- Influence on investor sentiment and crypto prices: The involvement of a high-profile figure like Ohanian could inspire confidence among investors. This news might trigger a wave of speculation, particularly for tokens tied to decentralized social media (DeSoc) or layer-1 blockchain projects.
- Impact on regulation and policy: While integrating blockchain into TikTok would face several challenges with strict U.S. regulations, especially regarding data privacy and national security, the success of this project could prompt the U.S. government to reconsider their approach to crypto, potentially leading to more favorable policies.
Ohanian’s involvement in acquiring TikTok and bringing it “on-chain” is a bold move with the potential to reshape both the crypto market and the social media industry. Let’s look forward to positive movements in the crypto market.
