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By this time next week, we should all know if TikTok will be allowed to continue operating in the U.S., in partnership with Oracle, or if it will be in the process of being banned by President Trump.

Axios Re:Cap digs into the perspective from China, where TikTok's parent company is based. Our guest is CNBC Beijing bureau chief Eunice Yoon.

Go deeper

TikTok mega-star Josh Richards pivots to VC investing

Photo: RNewsfoto/Triller

Josh Richards is joining Remus Capital, an early-stage venture capital firm, as a Venture Partner, Axios has learned.

The backdrop: Richards, 18, has more than 22 million followers on TikTok and is an angel investor and chief strategy officer at Triller. Remus invests in startups that cater to Gen-Z, like boutique fitness app ClassPass.

Laurel Hubbard to become 1st openly trans athlete to compete at Olympics

New Zealand's Laurel Hubbard at the Gold Coast 2018 Commonwealth Games in Australia, when she became the first openly transgender athlete to represent NZ. Photo: Scott Barbour/Getty Images

The New Zealand Olympic Committee has announced that Laurel Hubbard has been selected for the women's weightlifting team for the Tokyo Games — making her the first openly transgender athlete to compete at the event.

The big picture: Hubbard, 43, is part of a five-member Kiwi weightlifting team and will compete in the women's super heavyweight category. Meanwhile, BMX rider Chelsea Wolfe will become the first openly trans athlete to travel to the Olympics with Team USA, when she arrives in Tokyo as a reserve rider.

American Airlines cuts hundreds of flights amid demand surge

Photo: Joe Raedle/Getty Images

American Airlines announced Sunday that it's cutting some 950 flights from its schedule, including 296 this weekend, to reduce potential pressure on its operations, the Wall Street Journal first reported.

Driving the news: The U.S. vaccine rollout has led to a massive increase in travel bookings. The airline noted in an emailed statement that it's facing an "incredibly quick ramp up of customer demand."

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