Trump signs executive order creating US sovereign wealth fund, here’s what to know

“We're going to stand this thing up within the next 12 months. We're going to monetize the asset side of the US balance sheet for the American people. There'll be a combination of liquid assets, assets that we have in this country as we work to bring them out for the American people,” said Treasury Secretary Scott Bessent.

TikTok, owned by China's Bytedance, restored services to US users in January after a brief blackout as Trump assured that he would pause a federal ban on the app after assuming power on January 20. Later, Trump signed an executive order seeking to delay by 75 days the enforcement of the law.

TikTok was forced to shut down briefly due to “national security concerns”. The order also demanded Bytedance to cut ties with the app's US operations. However, it also allowed a sitting president to grant a 90-day extension if a viable sale was underway.