HBAR Foundation and Zoop Join TikTok Acquisition Race Amid U.S. Ownership Push

The bid, led by OnlyFans founder Tim Stokely, proposes a blockchain-based model to benefit creators and communities.

The HBAR Foundation and Tim Stokely's new venture, Zoop, have submitted a bid to acquire TikTok's U.S. operations from ByteDance.
The proposal emphasizes American ownership and governance to address national security concerns tied to TikTok's Chinese parent company.
Zoop's bid introduces a blockchain-based approach aimed at directly benefiting creators and their communities.
Amazon has also submitted a competing bid for TikTok, highlighting the platform's immense value and strategic importance.
The HBAR cryptocurrency saw a modest 1.5% price increase following news of the bid, reflecting mild market interest.