TLDR

• Tim Stokely, OnlyFans founder, and HBAR Foundation submitted a late-stage bid to acquire TikTok’s U.S. operations
• TikTok faces an April 5 deadline to divest from Chinese ownership or be banned in the U.S.
• Zoop, Stokely’s new “family-friendly” venture, promises to give the majority of revenue back to content creators
• Multiple bidders including Amazon, Microsoft, Walmart, and Reddit co-founder Alexis Ohanian are competing for TikTok
• Vice President J.D. Vance is leading efforts to find a buyer as President Trump considers proposals

Tim Stokely, the founder of OnlyFans, has partnered with the HBAR Foundation to submit a last-minute bid for TikTok’s U.S. operations. The proposal comes just days before the April 5 deadline that could see the popular video app banned in the United States.

The bid was submitted this week to the White House by Zoop, Stokely’s new venture, and the HBAR Foundation, which manages the Hedera cryptocurrency network’s treasury. Unlike OnlyFans, which is known mainly for adult content, Zoop is described as “mainstream and family-friendly.”

According to Zoop co-founder RJ Phillips, the bid aims to create a new business model for the platform. “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,” Phillips told Reuters.

Growing List of Bidders

Stokely and the HBAR Foundation join a growing list of potential buyers for the social media platform, which boasts over 170 million American users. Other companies that have expressed interest include tech giants Microsoft, Walmart, Oracle, and most recently, Amazon.

Reddit co-founder Alexis Ohanian also entered the race in March. Ohanian joined billionaire Frank McCourt’s bid as a strategic advisor, with plans to integrate TikTok into blockchain infrastructure.

The situation has attracted both tech companies and investment firms. Rumors that Elon Musk would take over the platform were dismissed in January as “pure fiction.”

Presidential Involvement

President Donald Trump met with officials on April 2 to discuss proposals for TikTok, just days before the looming deadline. Trump postponed enforcement of the law after taking office in January to allow time to find a suitable buyer.

Vice President J.D. Vance is reportedly spearheading the effort to find a buyer or lead investor. The administration is working with various tech companies, private equity firms, and venture capitalists interested in acquiring parts of TikTok.

Trump mentioned last month that his administration was in discussions with four different groups about a possible TikTok deal, without naming them. He has also suggested he might extend the deadline further if needed.

The Divestment Mandate

The legislation requiring ByteDance to divest from TikTok took effect on January 19, with bipartisan support in Congress. The law was passed due to concerns about potential Chinese government influence through the app.

Critics argue that Beijing could use TikTok to conduct surveillance or spread disinformation among American users. ByteDance has repeatedly denied these claims.

The talks on TikTok have focused on a plan for the largest non-Chinese investors in ByteDance to increase their stakes and acquire the app’s U.S. operations, according to Reuters reports.

TikTok advocates argue that the ban would violate Americans’ First Amendment rights by restricting access to foreign media. The controversy balances national security concerns with free speech protections.

The White House is playing an unusual role in the process, acting similar to an investment bank in managing the sale. This level of government involvement in a corporate transaction highlights the national security implications of the deal.

ByteDance faces tough choices as the deadline approaches. The company must either sell TikTok’s U.S. operations to an American owner or face a complete ban in one of its largest markets.

If successful, Zoop’s business model would represent a shift for the platform. The company claims to give back the majority of its revenue to content creators, rewarding them for driving user engagement.

Phillips declined to provide details on the bid amount or the investors backing it. The partners have been working with a consortium of investors to finance the potential acquisition.

As the weekend deadline approaches, the number of bids continues to grow. The final decision will impact not only the future of TikTok but also set precedent for how the U.S. handles foreign-owned technology platforms.

The outcome will affect millions of American users and creators who have built businesses and audiences on the platform. Whatever decision is made, it will reshape the social media landscape in the United States.