Reddit co-founder Alexis Ohanian has joined billionaire Frank McCourt’s bid to acquire TikTok as a strategic adviser. McCourt’s internet advocacy organization, Project Liberty, announced that Ohanian, an investor married to tennis star Serena Williams, has joined a consortium called “The People’s Bid for TikTok.”

Ohanian stated in a series of posts on X, “I’m officially now one of the people trying to buy TikTok US—and bring it on-chain.” This refers to a decentralized, blockchain-based platform that Project Liberty plans to leverage to give users more control over their online data.

If the bid is successful, Project Liberty intends to use the technology as the backbone of the redesigned TikTok, ensuring that privacy, security, and digital independence are foundational principles. Ohanian suggested renaming TikTok to “TikTok: Freedom Edition” if he purchased it.

TikTok was required by a federal bill to sever ties with its China-based parent company, ByteDance, or face a ban. Under President Donald Trump’s executive order, the deadline for TikTok to find new ownership was extended until early April.

McCourt’s consortium, which includes “Shark Tank” star Kevin O’Leary, has already offered ByteDance $20 billion in cash for the U.S. platform. Despite the offer, some analysts estimate TikTok could be worth even more without its coveted algorithm, which McCourt has expressed disinterest in.

Other companies have also expressed interest in acquiring TikTok. Microsoft is among the U.S. companies considering taking control of TikTok, as mentioned by Trump in January. The artificial intelligence startup Perplexity AI proposed merging its business with TikTok’s U.S. platform and offering the U.S. government a stake in the new entity.

Additionally, Jesse Tinsley, the founder of payroll firm Employer.com, has formed a consortium with the CEO of video game platform Roblox. They are offering ByteDance over $30 billion for TikTok.