In a surprising development related to the ongoing TikTok drama, Tim Stokely, the founder of OnlyFans and Zoop, has teamed up with the Hedera Hashgraph HBAR Foundation to submit a last-minute bid for TikTok’s US operations.
This bid comes at the very last minute as the viral social media platform has an April 5 deadline to divest its American assets or face a nationwide ban.
Source 👀🚀 @rjphil @HBAR_foundation
— ZOOP (@zoopclub) April 2, 2025
OnlyFans Founder Teaming Up With The HBAR Foundation To Take Over The Viral Social Media Platform In The US
Stokely’s new venture, Zoop, proposed the plan in conjunction with the HBAR Foundation, the organization behind the Hedera cryptocurrency. Within the proposal are plans to introduce a new ownership model on TikTok that will see content creators and their communities benefiting directly from the platform’s value.
Many within the Hedera community speculate that the HBAR Foundation bid for TikTok could integrate blockchain technology to power the social media platform, potentially offering crypto payments to creators and communities.
It seems as though the Hedera community is onto something, as Stokely and the HBAR Foundation have confirmed that their vision for TikTok US revolves around leveraging blockchain technology to create a more equitable ecosystem for content creators.
Using Hedera’s decentralized ledger technology, TikTok could integrate transparent revenue-sharing models, smart contracts, and creator-led governance.
Stokely’s partnership with a digital asset foundation for the bid underscores the growing influence of Web3 and decentralized technologies in reshaping digital ownership and governance.
While the crypto market faces challenges due to President Trump’s recent tariff announcements, Hedera (HBAR) remains stable, trading at approximately $0.163 with a market cap of $6.9 billion according to CoinGecko.
A Race Against Time For TikTok In The US: Can Hedera Beat Amazon And Oracle To Win The Bid?
TikTok’s parent company, ByteDance, has been under increasing pressure from US lawmakers and regulators. There are longstanding national security concerns regarding the platform’s connections to China. The US government has demanded that ByteDance sell its American operations to a domestic entity or face potential expulsion.
Zoop and HBAR’s last-minute bid comes as several major players have expressed interest in acquiring TikTok’s US operations, with Amazon reportedly making a last-minute offer and Oracle leading a consortium of potential buyers.
Amazon vs. Hedera: TikTok’s next owner could change everything. Who wins? $AMZN $HBAR pic.twitter.com/8Vvsa43Xld — firehustle (@firehustle_net) April 2, 2025
The increasing interest from tech giants and financial firms highlights TikTok’s immense value as one of the most popular social media platforms worldwide. Given the interest, it looks likely that a resolution can be found, allowing TikTok to maintain its operations in the US.
Zoop and HBAR’s Web3 approach could set them apart from competitors, who will likely use traditional corporate practices. If successful, this acquisition could signify a shift toward decentralized social media, where users have a greater stake in the platforms they contribute to.
Key Points:
- If successful, HBAR and Zoop would leverage blockchain technology to differentiate TikTok from its competition.
- The HBAR bid faces competition from major players like Amazon and Oracle.
- If no successful US entity is found to take over TikTok’s operations, the platform may face expulsion from the States.
