HBAR Foundation and OnlyFans Founder Launch Bid to Acquire TikTok
The HBAR Foundation has partnered with OnlyFans founder Tim Stokely in an ambitious move to acquire the U.S. arm of TikTok, according to a Reuters report published Monday.
The bid was submitted last week to the White House via Zoop — Stokely’s new family-friendly crowdfunding platform — and marks an unconventional challenge to tech industry titans also vying for the social media giant. Amazon (AMZN) is reportedly among the other interested parties, according to The New York Times.
“Our proposal goes beyond simply acquiring a platform,” said RJ Phillips, co-founder of Zoop. “It’s about reshaping the digital landscape to ensure creators and their communities share fairly in the value they produce.”
The HBAR Foundation, known for its role in supporting the Hedera (HBAR) network — a proof-of-stake smart contract platform launched in 2018 — confirmed the joint bid in a statement to CoinDesk. HBAR currently holds a market cap of $7.2 billion, ranking it as the 22nd-largest cryptocurrency. The token showed only a modest reaction to the news, rising 1.5% over the past 24 hours.
In a joint press release, Zoop and the HBAR Foundation outlined their goal to “disrupt the legacy model of Big Tech,” where platforms typically retain the lion’s share of revenue while creators see just a fraction.
“This initiative is designed to upend a system where creators drive the content, yet often see minimal rewards,” the companies stated.
