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.

Tim 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.

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

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

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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 under increasing pressure from US lawmakers and regulators over the past few years. There are longstanding national security concerns regarding the platform’s ties 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 other major players have expressed interest in acquiring TikTok’s US operations. Jeff Bezos’ Amazon has reportedly made a last-minute offer, while tech juggernaut Oracle is leading a consortium of potential buyers.

The increasing interest from tech behemoths and financial firms highlights TikTok’s immense value as one of the most popular social media platforms in the world. Given the interest, it looks 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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OnlyFans founder and the HBAR Foundation team up to buy TikTok US Operations

  • If successful, HBAR and Zoop would leverage blockchain technology to make TikTok stand out from the competition

  • The HBAR bid is facing competition from the likes of Amazon and Oracle

  • If no successful US entity is found to take over TikTok’s US operations, the social media platform faces expulsion from the States

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