Amid the potential TikTok ban in America, the social media platform Chief of Executive Shou Zi Chew is planning to attend US President-elect Donald Trump's inauguration scheduled for next week. 

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The TikTok CEO is expected to sit on the dais alongside other key guests, a Trump transition source confirmed to Axios on Thursday.

This comes as the fate of TikTok hangs by a thread, with the potential ban in the US set to take effect on Saturday. 

Reportedly, the Trump Vance Inaugural Committee extended the invitation to Chew, Trump's transition source said. 

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Also read: Donald Trump reportedly weighing possibilities to ‘preserve’ TikTok

Trump reportedly trying to preserve TikTok

Donald Trump's pick for national security adviser, Florida Rep. Mike Waltz, said on Wednesday in an interview that the US President-elect was reviewing prospects to “preserve” TikTok.

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Waltz's comment came in response to a Fox News anchor's question about a Washington Post report, which claimed that Trump was mulling an executive order to suspend the enforcement of a federal law that could potentially lead to a nationwide ban on TikTok by Sunday (Jan 19), affecting around 170 million users in America.

Earlier in December, Trump held a meeting with Chew, and ahead of his meeting, he said that he had a "warm spot in my heart for TikTok." 

Also read: What is RedNote? Chinese social media app to which US TikTokers are migrating ahead of ban

Meanwhile, US President Joe Biden, in his farewell address on Wednesday night, warned about the incoming "tech industrial complex," which he said gives him "great concern." 

"Americans are being buried under an avalanche of misinformation and disinformation enabling the abuse of power," Mr. Biden said. "The free press is crumbling. Errors are disappearing. Social media is giving up on fact-checking. The truth is smothered by lies told for power and for profit."

He added, "Artificial intelligence is the most consequential technology of our time, perhaps of all time."

Also read: China considers selling TikTok US to Elon Musk amid ban threat: Report

Last week, the Supreme Court gave a January 19 deadline to ByteDance that the company should either sell TikTok or face a ban in the country on the grounds of national security.

Trump had earlier urged the Supreme Court to delay its decision around the short video platform. In a legal brief, Trump's team argued for "more breathing space".

The Americans are now migrating to an alternative Chinese social media app, RedNote, which has now become the most downloaded app on Apple's US App Store. 

The app, which means "Little Red Book", came to the top position on Apple's US App Store on Tuesday.

Also read: US Supreme Court likely to uphold TikTok ban amid security concerns

TikTok has been repeatedly saying that it will not sell its US business. Its lawyers warned that a ban will violate free speech protections for the platform's 170 million users in the US. 

(With inputs from agencies)