Reddit Co-Founder Alexis Ohanian Joins Bid to Buy TikTok and Bring It ‘On Chain’

Alexis Ohanian, co-founder of Reddit, has confirmed his involvement in a bid to acquire TikTok’s U.S. operations as part of Project Liberty, a venture aiming to bring the popular social media platform onto the blockchain. The move comes as part of an effort to keep TikTok under U.S. ownership, potentially averting a nationwide ban that had been threatened by the Trump administration.

Ohanian’s participation in the deal was first reported by Reuters on March 3, when Project Liberty founder Frank McCourt announced Ohanian’s appointment as a strategic adviser, with a focus on social media. In a post on X (formerly Twitter) on the same day, Ohanian confirmed his role in the project, stating, “I’m officially now one of the people trying to buy TikTok US — and bring it onchain.”

In his post, Ohanian emphasized the importance of empowering users and creators: “Users should own their data. Creators should own their audience. Period.” This vision aligns with the core goals of Project Liberty, which aims to reimagine social media by giving users control over their digital identities and data.

Project Liberty’s proposal centers on the use of a decentralized social network protocol called “Frequency,” which is designed to enable user ownership of personal data. The platform will be built on Polkadot’s blockchain infrastructure, which ensures transparency and accountability. McCourt’s vision is to rearchitect TikTok with these principles at its foundation, creating a platform that prioritizes fairness and user control.

Ohanian, who has long been an advocate for blockchain technology, reiterated his belief that TikTok’s future should be shaped by the very creators who have made the platform a success. "TikTok has been a game-changer for creators, and its future should be built by them," Ohanian stated on X. “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.”

Ohanian’s involvement in blockchain initiatives is not new. In 2022, his platform, Reddit, began investing its excess cash reserves into major cryptocurrencies like Bitcoin (BTC), Ether (ETH), and Polygon (POL), though it sold most of its holdings in the third quarter of 2024. Additionally, Reddit introduced a blockchain-based avatar system, called Reddit Collectible Avatars, which allowed users to purchase and display Polygon-based non-fungible tokens (NFTs). However, the success of NFT sales waned alongside the broader downturn in the cryptocurrency market. In January 2024, Reddit's head of blockchain, Bianca Wyler, stepped down, and the platform's blockchain-based rewards system, "Community Points," was shut down by the end of 2023.

Despite the challenges faced by Reddit’s earlier blockchain initiatives, Ohanian’s continued focus on the intersection of social media and blockchain technology reflects his vision of a decentralized future for online platforms. His participation in Project Liberty is a bold step toward reshaping the digital landscape, and if successful, it could usher in a new era of user-centric social media where control over data and content lies firmly with the creators and users themselves.

As the bid to acquire TikTok progresses, Ohanian and Project Liberty are setting the stage for a fundamental shift in how social media operates, with transparency, fairness, and decentralization at the forefront.