OnlyFans Founder Teams Up With The HBAR Foundation To Take Over The Viral Social Media Platform In The US

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.

The founder of OnlyFans and Zoop, Tim Stokely, has teamed up with the Hedera Hashgraph HBAR Foundation in a surprising development to submit a last-minute bid for the US operations of TikTok.

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 complete shutdown.

OnlyFans Founder Teams Up With The HBAR Foundation To Take Over The Viral Social Media Platform In The US

Stokely’s new venture, Zoop, has proposed the proposal 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 see the Hedera blockchain technology used 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 does indeed revolve around leveraging blockchain technology to create a more equitable ecosystem for content creators.

Via 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 highlights the growing influence of Web3 and decentralized technologies in reshaping digital ownership and governance.

(COINGECKO)

While the rest of the crypto market is bleeding due to President Trump’s tariff announcements late last night, Hedera (HBAR) is still holding up well and in the green on the 1h chart, while everything else is massively red.

HBAR is currently trading for around $0.163 and has a market cap of $6.9 billion, making it the 22nd largest digital asset according to CoinGecko.

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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 the subject of intense scrutiny and pressure from US lawmakers and regulators in recent years over its ties to China and over concerns about national security.

The US government has demanded that ByteDance sell its American operations to a domestic entity or face the prospect of having the popular short-form video-sharing app completely shut down within the US.

Zoop and HBAR’s last-minute bid comes as several other major players have expressed interest in acquiring the US operations of TikTok. Jeff Bezos’ Amazon is reportedly planning to make a last-minute bid for the viral social media platform, while tech juggernaut Oracle is leading a consortium of potential buyers for the platform.

Amazon vs. Hedera: TikTok’s next owner could change everything.

Who wins?$AMZN $HBARpic.twitter.com/8Vvsa43Xld— firehustle (@firehustle_net) April 2, 2025

The increasing interest from tech behemoths and financial firms highlights the immense value of TikTok as one of the most popular social media platforms in the world. It seems more than likely that a resolution can be found and that it will remain operational in the US.

The Web3 approach from Zoop and HBAR could differentiate them from the competition, which will likely utilize traditional corporate practices. If successful, this acquisition could mark a shift toward decentralized social media, where users have a greater stake in the platforms they contribute to.

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