Lydia Moynihan and Charles Gasparino size up the TikTok deal President Trump closed this week — and the profits that could flow to investors who roll their Chinese ByteDance shares into a new U.S.-controlled TikTok. D.C. sources tell Gasparino China hawks will strike if the deal isn’t airtight. Meanwhile, New York Governor Kathy Hochul may be trying to hitch a ride on the digital wave boosting Zoran Mamdani in the New York mayor’s race. City Hall Bureau Chief Craig McCarthy weighs in on Hochul’s endorsement of the Democratic Socialist. Is it a desperate bid to win over far-left voters ahead her upcoming bid for reelection? And is Mamdani really headed for City Hall?

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