According to a recent report by Reuters, the HBAR Foundation has partnered with Tim Stokely, the founder of OnlyFans, in an effort to acquire the popular Chinese social media app TikTok.
Last week, Stokely and the HBAR Foundation submitted a bid to the White House through Zoop, a new family-friendly crowdfunding company founded by Stokely. “Our bid for TikTok aims to not only change ownership but also to create a new model where creators and their communities directly benefit from the value they create,” said Zoop co-founder RJ Phillips in an interview with Reuters.
The HBAR Foundation is known for Hedera (HBAR), a proof-of-stake smart contract platform launched in 2018. With a market capitalization of $7.2 billion, HBAR is currently the 22nd largest cryptocurrency. Despite the news, the coin only saw a 1.5% increase in the last 24 hours.
It seems that the bid by Stokely and the HBAR Foundation is not the only one in the running. According to The New York Times, online retail giant Amazon is also interested in acquiring TikTok.
