In a move that could reshape the social media landscape, Zoop, a social application developed by OnlyFans founder Tim Stokely, has reportedly partnered with the HBAR Foundation to submit a bid for the video-sharing giant TikTok in the United States. As reported by Reuters on April 2, the two entities have filed their intent to bid with the Trump administration, joining a competitive fray that includes major tech companies like Amazon, Oracle, Microsoft, and Rumble.
RJ Phillips, co-founder of Zoop, expressed that their bid extends beyond mere ownership transfer. He stated, “Our bid for TikTok isn’t just about changing ownership; it’s about creating a new paradigm where both creators and their communities benefit directly from the value they generate.” This vision reflects a growing emphasis on creator empowerment in the rapidly evolving digital landscape.
The political backdrop surrounding TikTok has been tumultuous. In 2024, the U.S. Congress passed legislation signed by former President Joe Biden, which could potentially lead to a ban on TikTok unless its operations are disassociated from its Chinese parent company, ByteDance. The original deadline for the sale under this law was set for January 19, but following President Donald Trump’s extension, the sale has now been pushed to April 5.
As the landscape evolves, it remains crucial to monitor the situation. Both the HBAR Foundation and Zoop have yet to respond to inquiries from Cointelegraph at the time of publication, and further developments are expected.
This is a developing story, and further information will be added as it becomes available.
