General Atlantic and Sequoia Capital are among the investors reportedly in talks with the U.S. Treasury and other regulators to assess whether separating TikTok from its Beijing-headquartered parent company would curb national security concerns. TikTok said it does not “comment on rumors or speculation.” (The Information, Financial Times)

Talking point: TikTok is under growing pressure in the U.S. over concerns about data privacy, exacerbated by the Chinese government’s potential influence on the company. On Wednesday, a Senate committee unanimously passed a bill looking to ban federal employees from using the platform. ByteDance founder and CEO Zhang Yiming has previously said he would be open to the idea of selling TikTok if that would be “best for the future of the app.” Sources told Axios the talks between investors and Treasury are still in the early stage with many challenges to overcome, including how such a deal would be financed and how effective it would be in getting Washington to stand down. On paper, it makes sense: TikTok has some 1,400 employees in the U.S, and intends to hire 10,000 more people across California, New York, Texas, Florida and Tennessee—positions that are generating a lot of interest among young workers. The platform also brought on board a team of more than 35 lobbyists to build ties with the current administration.