In a stunning improvement associated to the continued TikTok drama, Tim Stokely, the founding father of OnlyFans and Zoop, has teamed up with the Hedera Hashgraph HBAR Basis to submit a last-minute bid for TikTok’s US operations.
This bid comes on the final minute because the viral social media platform has an April 5 deadline to divest its American belongings or face a nationwide ban.
https://t.co/0W4mSub2qF
@rjphil @HBAR_foundation
— ZOOP (@zoopclub) April 2, 2025
OnlyFans Founder Teaming Up With The HBAR Basis To Take Over The Viral Social Media Platform In The US
Tim Stokely’s new enterprise, Zoop, has proposed the proposal at the side of the HBAR Basis, the group behind the Hedera cryptocurrency.
Inside the proposal are plans to introduce a brand new possession mannequin on TikTok that can see content material creators and their communities benefiting straight from the platform’s worth.
Many throughout the Hedera group speculate that the HBAR Basis bid for TikTok might see the Hedera blockchain expertise used to energy the social media platform, probably providing crypto funds to creators and communities.
It appears as if the Hedera group is onto one thing, as Stokely and the HBAR Basis have confirmed that their imaginative and prescient for TikTok US does certainly revolve round leveraging blockchain expertise to create a extra equitable ecosystem for content material creators.
Through Hedera’s decentralized ledger expertise, TikTok might combine clear revenue-sharing fashions, good contracts, and creator-led governance.
Stokely’s partnership with a digital asset basis for the bid highlights the rising affect of Web3 and decentralized applied sciences in reshaping digital possession and governance.
Whereas the remainder of the crypto market is bleeding attributable to President Trump’s tariff bulletins late final evening, Hedera (HBAR) is holding regular and within the inexperienced on the 1h chart, whereas all the things else is pink.
HBAR is buying and selling for round $0.163 and has a market cap of $6.9 billion. In keeping with CoinGecko, it’s the twenty second largest digital asset by market cap.
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A Race Towards Time For TikTok In The US: Can Hedera Beat Amazon And Oracle To Win The Bid?
TikTok’s father or mother firm, ByteDance, has been beneath rising stress from US lawmakers and regulators over the previous few years. There are longstanding nationwide safety issues concerning the platform’s ties to China. The US authorities has demanded that ByteDance promote its American operations to a home entity or face potential expulsion.
Zoop and HBAR’s last-minute bid comes as a number of different main gamers have expressed curiosity in buying TikTok’s US operations. Jeff Bezos’ Amazon has reportedly made a last-minute provide, whereas tech juggernaut Oracle is main a consortium of potential consumers.
Amazon vs. Hedera: TikTok’s subsequent proprietor might change all the things.
Who wins?$AMZN $HBAR pic.twitter.com/8Vvsa43Xld
— firehustle (@firehustle_net) April 2, 2025
The rising curiosity from tech behemoths and monetary companies highlights TikTok’s immense worth as probably the most in style social media platforms on the planet. Given the curiosity, it seems greater than doubtless {that a} decision will be discovered and that it’ll stay operational within the US.
The Web3 method from Zoop and HBAR might differentiate them from the competitors, which is able to doubtless make the most of conventional company practices. If profitable, this acquisition might mark a shift towards decentralized social media, the place customers have a higher stake within the platforms they contribute to.
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OnlyFans founder and the HBAR Basis group as much as purchase TikTok US Operations
- If profitable, HBAR and Zoop would leverage blockchain expertise to make TikTok stand out from the competitors
- The HBAR bid is going through competitors from the likes of Amazon and Oracle
- If no profitable US entity is discovered to take over TikTok’s US operations, the social media platform faces expulsion from the States
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