A new contender has entered the race to acquire TikTok just days before a U.S. government deadline that could force a ban.
Zoop, a Web3 startup launched by OnlyFans founder Tim Stokely, has submitted a formal bid. The HBAR Foundation, which supports the Hedera blockchain, has also backed Zoop.
The proposal places them alongside significant tech companies like Amazon and Oracle as the White House prepares to make a final decision on TikTok’s future in the United States.
Zoop and HBAR New Model for TikTok
Zoop, co-founded by Tim Stokely and RJ Phillips, has submitted a last-minute proposal to acquire TikTok from ByteDance. What sets their offer apart is the use of Hedera’s blockchain infrastructure to create a more transparent and decentralised platform.
The bid is supported by the HBAR Foundation, which oversees Hedera’s treasury and ecosystem development.
The proposal outlines a vision where blockchain technology is used to reward creators more fairly and enable user participation in key platform decisions. According to Phillips, the aim isn’t just to shift ownership but to rethink how TikTok operates.
Rather than relying solely on platform-driven advertising, Zoop wants to build a system where creators receive a larger share of the value they generate through token-based rewards, smart contracts, and on-chain governance structures.
The Zoop team emphasises that this isn’t a repeat of Stokely’s previous platform, OnlyFans. Instead, Zoop is designed to be a family-friendly, mainstream space for digital engagement.
While details of the offer’s financial scale remain undisclosed, the intent was submitted to the White House earlier this week, just before the April 5 deadline.
At present, the U.S. government has not provided public comment on the proposal, but it has drawn attention for its distinct approach.
Major Tech Companies Competing Offers
The bid from Zoop and the HBAR Foundation joins a growing list of contenders aiming to take over TikTok’s U.S. operations. Amazon, Oracle, Microsoft, Rumble, and the McCourt-led “People’s Bid” are all either in the running or under serious consideration.
Each brings a different model to the table, and the government is now evaluating which option best satisfies concerns around national security and data ownership.
Amazon reportedly made its offer earlier this week, though no financial details have been disclosed.
If accepted, it would mark Amazon’s first major step into social media. Oracle, which previously handled TikTok’s U.S. data infrastructure, is seen as a compliant and technically equipped bidder. Its existing involvement with TikTok gives it a strategic advantage in ongoing discussions.
Microsoft, while not officially confirmed as a bidder, has been linked to earlier acquisition talks and remains a potential option.
Rumble, a smaller video platform, is said to be looking at strategic partnerships rather than a full buyout. Frank McCourt’s “People’s Bid” aims to rebuild TikTok with a user-controlled data model and open infrastructure.
Though not formally endorsed, it remains on the table with continued engagement from government contacts.
Adding to the mix is an unconventional bid led by YouTube creator MrBeast. Although it lacks institutional backing, the offer is reportedly being reviewed along with others, indicating that all possibilities are still being explored.
President Donald Trump and Vice President JD Vance are now expected to decide the April 5 deadline approaches.
The divestment requirement, established by law, has already been extended once and can only be delayed further by executive action or Congressional intervention. Which bid will be accepted remains uncertain, but the stakes are high for all involved.
Conclusion
With the deadline just days away, TikTok’s ownership remains in question. Zoop and the HBAR Foundation present a unique, blockchain-based approach, while larger firms like Amazon and Oracle offer more traditional corporate structures.
Whether the U.S. government chooses innovation through Hedera or opts for familiarity with big tech will shape not only TikTok’s future but also the role of crypto in mainstream digital platforms.