After new surfaced on Friday reporting President Trump would force China-based ByteDance to sell TikTok U.S., Trump ended the day telling reporters on Air Force One that he is planning to ban the app as early as Saturday.

With the news breaking, TikTok users, creators and influencers were in a panic speculating and preparing for an indefinite hiatus. Many posted links to other social networks, encouraging their followers on TikTok to follow them elsewhere. Others made goodbye videos under the assumption it could the final night on the app.

Saturday morning GM of TikTok North America Vanessa Pappas issued a video statement to users, thanking them and stated, "we're not planning on going anywhere... we're here for the long run."

Meanwhile, TikTok competitors are seizing the moment. Facebook is rolling out its copycat service on Instagram, Reels in a matter of weeks. Triller has reportedly been poaching creators from TikTok with cash incentives. Stay tuned for weekend manuevers.

Microsoft is reportedly in talks to acquire TikTok U.S. from ByteDance to save the app from U.S. officials' shutdown.