OnlyFans founder Tim Stokely has joined forces with the HBAR Foundation through his latest venture, Zoop, to acquire TikTok from its Chinese parent company, ByteDance. According to a Reuters report, the group formally submitted its intent to bid to the White House and President Donald Trump earlier this week.
Zoop co-founder RJ Phillips stated that a consortium of investors backs the proposal and envisions a creator-first approach to platform governance.
“Our bid for TikTok isn’t just about changing ownership,” Phillips said.
“It’s about creating a new paradigm where both creators and their communities benefit directly from the value they generate.”
The bid introduces a crypto-powered angle to the ongoing TikTok acquisition saga—one that could redefine how user engagement, monetization, and platform governance are structured through blockchain-based incentives.
HBAR’s TikTok Bid Faces Stiff Competition from Amazon
According to The New York Times, President Trump met with senior advisors on Wednesday to discuss TikTok’s future as the divestment deadline looms. According to individuals briefed on the discussions, one possible outcome may involve restructuring TikTok’s U.S. operations to include a mix of American investors—reportedly including Oracle and Blackstone—without executing a full-scale sale. However, it remains unclear whether such a workaround would meet the legal requirements set by the divestment mandate passed last year.
Meanwhile, Amazon’s growing ties to TikTok could give the retail giant an edge in its bid. The video platform, with over 170 million U.S. users, has become a central hub for influencer-driven commerce. While TikTok operates its own in-app storefront, TikTok Shop, many creators continue to drive traffic to Amazon’s marketplace, earning affiliate commissions in the process. Additionally, Amazon has reportedly supplied backend infrastructure for parts of TikTok’s technical stack.
The HBAR Foundation brings with its bid a vision of blockchain-enabled creator empowerment, though details surrounding the size of the offer remain undisclosed. HBAR, currently the world’s 22nd-largest cryptocurrency with a market cap of $7.2 billion, responded modestly to the announcement, rising just 1.5% in the last 24 hours.
Meanwhile, the Zoop–HBAR proposal emphasizes a shift away from the traditional revenue model dominated by centralized tech giants.
“This strategic initiative aims to disrupt the traditional big tech model where platforms can capture up to 90% of revenue while creators—who generate the content—receive a disproportionately small share,” the partners stated in a press release.
Reuters reported that President Trump is expected to review at least one proposal this week, with ByteDance facing an imminent deadline to divest or risk a nationwide U.S. ban.
The urgency surrounding TikTok’s sale stems from legislation passed in April 2024, requiring ByteDance to divest its U.S. operations by April 5, 2025, or face a nationwide ban. The mandate reflects bipartisan concerns over data privacy and national security.
The decision could broadly affect platform ownership, data sovereignty, and the evolving intersection of blockchain and mainstream tech companies operating in the U.S.
Quick Facts
- OnlyFans founder Tim Stokely’s Zoop and the HBAR Foundation have formally submitted a bid to acquire TikTok from ByteDance.
- The proposal was sent to the White House and President Trump and is backed by a consortium of private investors.
- The partners aim to introduce a blockchain-powered, creator-first model that challenges traditional tech revenue structures.
- The offer enters a competitive field, with Amazon and other tech giants also submitting bids ahead of the April 5 divestment deadline.
