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Chuck Schumer (left) and Tom Cotton (right). Photo: Alex Wong/Getty Images

Sens. Chuck Schumer (D-N.Y.) and Tom Cotton (R-Ark.) asked U.S. intelligence officials on Wednesday to determine whether TikTok, a Chinese social media app that has seen a massive spike in popularity among young people, poses any "national security risks," the Washington Post reports.

Why it matters: The app already has more than 110 million downloads in the United States alone, and could become a Chinese vacuum for coveted American data as tensions between the countries continue to escalate.

Details: In a letter sent to acting Director of National Intelligence Joseph Maguire, the senators questioned TikTok's data collection practices and whether the app adheres to censorship rules imposed by the Chinese government.

  • Schumer and Cotton believe the app could be a target for "foreign influence campaigns" like those carried out in the 2016 election.

The big picture: This is the second congressional request to investigate TikTok. Earlier this month, Sen. Marco Rubio (R-Fla.) asked the Committee on Foreign Investment in the United States to review a 2017 deal allowing TikTok to expand into the U.S. market.

Go deeper:

Go deeper

Dion Rabouin, author of Markets
23 mins ago - Economy & Business

Clash of the central bankers

Photo Illustration: Eniola Odetunde/Axios. Photos: Bloomberg, Samuel Corum (Stringer)/Getty Images

While Fed chair Jerome Powell is brushing off the seismic rise in government bond yields and a corresponding decline in stock prices, a group of central bankers in the Pacific are starting to take action.

Driving the news: Bank of Japan governor Haruhiko Kuroda told parliament on Friday the BOJ would not allow yields on government debt to continue rising further above the BOJ's 0% target.

Biden expresses support for Amazon workers' union vote in Alabama

Photo: Joe Raedle/Getty Images

President Biden expressed support for a union vote by Amazon warehouse workers in Alabama in a two-minute video posted on Twitter Sunday, though he did not name the tech giant specifically.

Why it matters: A vote by workers at the Bessemer, Ala., warehouse to join the Retail, Wholesale and Department Store Union would make the facility the first Amazon warehouse to unionize in the U.S., per NPR. The election will run through March 29.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Miami mayor: Bitcoin's appeal is that governments can't manipulate it

Miami Mayor Francis Suarez is pushing to make bitcoin a part of his city's economic future, and in an interview with "Axios on HBO," he pushed back against the economic orthodoxy of people like Treasury Secretary Janet Yellen who say it's a bad idea.

Why it matters: Miami's inclusion of bitcoin as a way to pay city employees or as part of the city's emergency cash holdings, as Suarez has proposed, would add legitimacy to the cryptocurrency and further entrench it in the U.S. economic system.