HBAR Foundation and OnlyFans Founder Make Unlikely Bid for TikTok U.S.

In a surprising twist in the TikTok takeover race, the HBAR Foundation and Tim Stokely — the founder of OnlyFans — have teamed up to submit a formal bid to acquire the U.S. operations of the social media giant, according to Reuters.

The bid, reportedly filed with the White House last week, comes via Stokely’s new startup Zoop, a crowdfunding platform focused on creator-first monetization. The goal? Flip the script on Big Tech’s ad-driven revenue model.

“Our proposal isn’t just about buying TikTok — it’s about reimagining the platform so creators and their fans share in the value they help build,” said Zoop co-founder RJ Phillips.

The HBAR Foundation, which supports the development of the Hedera blockchain (HBAR), is backing the effort. Hedera is a proof-of-stake network launched in 2018 and currently holds a $7.2 billion market cap, ranking it 22nd among cryptocurrencies. HBAR’s price ticked up 1.5% following the news.

Amazon has also been rumored as a potential TikTok suitor, according to The New York Times, setting up a clash between crypto innovation and tech titans.

The HBAR Foundation confirmed to CoinDesk that it is part of the bid and positioned the move as a challenge to the traditional revenue split model used by platforms like TikTok.

“Right now, platforms take the lion’s share of the revenue while creators do most of the work,” the foundation said in a joint statement with Zoop. “We want to realign incentives so that communities and creators win.”