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"There is credible evidence that leads me to believe that ByteDance might take action that threatens to impair the national security of the United States"
Publisher acquires 12.3 per cent of shares in a company that dabbles in running League of Legends and Overwatch esports teams
The ban comes after the site experienced a popularity spike
15 million shares sold at $12 each
Major players like Douyu and Huya also under investigation
But no date set
Company's total funding to date surpasses $120 million
Social music app and its community of influencers acquired by Chinese tech firm