⁍ U.S. President Donald Trump said on Saturday he supported a deal in principle that would allow TikTok to continue to operate in the United States.

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⁍ ByteDance was racing to avoid a crackdown on TikTok after the U.S. Commerce Department said on Friday it would block new downloads and updates to the app.

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⁍ Trump signed an executive order on Aug. 14 giving ByteDance 90 days to sell TikTok.

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– On Aug. 14, President Trump signed an executive order giving China’s ByteDance 90 days to sell TikTok, a video-sharing app the US feared was being passed on to Beijing’s Communist Party. On Saturday, ByteDance and US investors including Walmart and Oracle announced a deal to keep TikTok operating in the US, Reuters reports. Under the deal, Oracle will take a 12.5% stake in TikTok Global, which will be headquartered in Texas; Walmart will take a 7.5% stake; and ByteDance will give up some of its control of TikTok. Trump, who had previously called on companies to pay the US a “fee” to participate in the TikTok deal, said there would also be a $5 billion US education fund as part of the deal. “I said, you know, do me a favor, could you put up $5 billion into a fund for education so we can educate people as to the real history of our country, not the fake history,” Trump told a rally in North Carolina, per the Washington Post. “I said, you know, do me a favor, could you put up $5 billion into a fund for education so we can educate people as to the real history of our country, not the fake history,” he said. ByteDance said in a social media post on Sunday that it was not aware it was setting up a $5 billion education fund in the United States.