On Saturday, TikTok was filled with anxious anticipation across the United States as a potential federal ban loomed, threatening to cut off access to the Chinese-owned platform that has engaged nearly half of the American population, supported small businesses, and influenced online culture.

The company announced late Friday that it would cease operations in the U.S. on Sunday unless the Biden administration offers assurances to major companies like Apple and Google that they will not face enforcement actions once the ban is implemented.

This ban would be enforced under legislation signed by President Biden in April, representing the first significant shutdown of a major social media application in the U.S. TikTok currently has around 170 million users domestically and is projected to generate approximately $20 billion in revenue by 2025.

The platform has until Sunday to sever its ties with its parent company, ByteDance, based in China, or it will have to shut down its U.S. operations to address national security concerns.

On Friday, the Supreme Court justices unanimously upheld the ban, and a statement from the White House indicated that President Biden would not intervene to save TikTok before the deadline.

If Biden does not formally request a 90-day extension, companies that provide services to TikTok or host the app may face legal repercussions. It remains uncertain whether TikTok's business partners, including Apple, Alphabet's Google, and Oracle, will continue their relationships with the app before the inauguration of Trump on Monday.

The uncertainty surrounding TikTok's future has prompted users, primarily younger demographics, to seek alternatives such as the China-based app RedNote. Meanwhile, competitors Meta and Snap have seen their stock prices increase this month in anticipation of a potential influx of users and advertising revenue.

Marketing agencies that depend on TikTok have been hastily developing contingency plans this week, with one executive describing the situation as a "hair on fire" moment, contrasting with previous expectations that a resolution would be found to keep the app operational.

There are indications that TikTok may experience a revival under the incoming U.S. President Donald Trump, who aims to seek a "political resolution" regarding the app's status. Last month, he urged the Supreme Court to delay the enforcement of the ban.

On Friday, Trump stated that the decision regarding TikTok's future would rest with him, although he did not elaborate on the specific actions he might take. Reports suggest he is contemplating an executive order that would temporarily halt the enforcement of the law mandating the sale or ban of TikTok for a period of 60 to 90 days.

According to a source cited by Reuters, TikTok CEO Shou Zi Chew intends to attend the U.S. presidential inauguration on January 20, where he will be seated among prominent guests invited by Trump.

Potential buyers, including former Los Angeles Dodgers owner Frank McCourt, have shown interest in the rapidly expanding platform, which analysts believe could be valued at up to $50 billion. Additionally, media reports indicate that discussions have taken place in Beijing regarding the sale of TikTok's U.S. operations to billionaire and Trump supporter Elon Musk, although the company has denied these claims.

ByteDance, the parent company of TikTok, is approximately 60% owned by institutional investors such as BlackRock and General Atlantic, while its founders and employees collectively hold 20%. The company employs over 7,000 individuals in the United States.