Just a day after Bloomberg reported that Bytedance, the Chinese parent company of the video app, along with both Oracle and The Treasury Department, have tentatively agreed to the terms of a bid, Trump made good on his threat to ban the app. On Sunday, both TikTok and WeChat will no longer be available in app stores, according to the New York Times, but TikTok will still be allowed to function until November 12, giving it time to reach a deal with Oracle and start fresh under U.S. ownership. 

"The only real change as of Sunday night will be users won’t have access to improved updated apps, upgraded apps or maintenance,” Commerce Secretary Wilbur Ross told Fox Business Network of the TikTok changes. 

As previously reported by the New York Times, an Oracle deal does not give Oracle ownership of the the app. The two companies will instead be “technology partners," which will hopefully satisfied Trump's privacy concerns.

The real question, though, is whether or not a deal includes the app's famed algorithm, which Chinese state broadcaster CGTN previously said Bytedance would not give to any US buyers. This algorithm, which is behind the app's addicting For You page, is essentially what makes it so valuable in the first place. If Bytedance is standing its ground, an Oracle TikTok could look very different than we're used to.

This is a developing story.