HBAR Foundation, OnlyFans Founder Launch Bold Bid to Take Over TikTok U.S.
The HBAR Foundation has joined forces with Tim Stokely, the entrepreneur behind OnlyFans, in a surprising move to acquire TikTok’s U.S. operations, according to a Reuters report.
Their joint bid, submitted last week to the White House, was filed through Zoop — Stokely’s latest venture focused on community-centric crowdfunding. The effort aims to reimagine how value flows between platforms, creators, and users.
“This isn’t just a takeover — it’s a reinvention of how social media should work,” said RJ Phillips, Zoop co-founder. “We want to ensure creators are truly rewarded for the content and engagement they bring to the table.”
HBAR, the native token of Hedera’s proof-of-stake blockchain, reacted modestly to the news, gaining 1.5% in the past 24 hours. The project currently boasts a market cap of $7.2 billion, ranking it 22nd among all cryptocurrencies.
While the Zoop-HBAR proposal is gaining buzz, they aren’t the only players in the mix. Tech giant Amazon is also reportedly exploring a bid, according to The New York Times.
Confirming the news to CoinDesk, the HBAR Foundation stated that the bid represents a shift away from the traditional tech model, where platforms capture the lion’s share of revenue.
“Our goal is to flip the script,” the companies said in a joint release. “Big tech shouldn’t keep 90% of the value creators bring to their platforms. It’s time for a new model — one that’s fair, transparent, and powered by blockchain.”
