The Article Tells The Story of:
- A Shocking Bid – The founder of OnlyFans, along with a crypto group, has made an unexpected late-stage bid to buy TikTok. Can they pull it off?
- TikTok’s Fate Hangs in Balance – With an April 5 deadline looming, ByteDance must sell or face a U.S. ban. Will this last-minute bid change everything?
- Amazon Joins the Fight – As Zoop and Hbar make their move, Amazon reportedly throws in its own bid. Who will win?
- White House Holds the Key – President Trump and Vice President JD Vance are steering the high-stakes auction. A game-changing decision is imminent.
A Shocking Late-Stage Offer
Tim Stokely, the founder of OnlyFans, has partnered with a cryptocurrency foundation to submit a last-minute bid to buy TikTok. The startup, Zoop, teamed up with the Hbar Foundation, which manages the Hedera cryptocurrency network’s treasury, to send an official intent to bid to the White House. This unexpected move could shake up TikTok’s uncertain future in the United States.
Read More About Our Article of Instagram’s Bold Move: Reels App to Rival TikTok Published on March 4, 2025 SquaredTech
What is Zoop?
Zoop is a new platform founded by Stokely. Unlike OnlyFans, which is known for adult content, Zoop is designed as a mainstream and family-friendly social media site. It follows a unique model where most of its revenue goes back to creators. This approach aims to boost engagement by financially rewarding users who drive traffic and interaction.
RJ Phillips, co-founder of Zoop, stated, “Our bid for TikTok isn’t just about ownership. It’s about giving creators and communities direct benefits from the value they generate.” The company is working with a group of investors, though specific details about financial backers have not been disclosed.
TikTok’s Fate Hangs in the Balance
ByteDance, TikTok’s Chinese parent company, faces an April 5 deadline to either sell the app’s U.S. operations or face a potential ban. The U.S. government cites national security risks as the reason for the forced sale, fearing that TikTok’s ties to China could allow foreign influence over American users. A law requiring ByteDance to sell TikTok took effect on January 19, receiving bipartisan support in Congress.
Former President Donald Trump, now in his second term, has delayed enforcing the law until April 5 to allow time for negotiations. He also hinted at further deadline extensions if needed. Meanwhile, several U.S. investors in ByteDance are working on a deal to buy TikTok’s U.S. operations and remove Chinese control from the platform.
Amazon Enters the Race
In another surprising development, Amazon has also placed a late-stage bid for TikTok. The company’s interest in the app was first reported by The New York Times. This move adds another layer of complexity to the ongoing negotiations, with major players now competing to secure TikTok’s future in the United States.
Trump previously stated that four different groups have expressed interest in acquiring TikTok, though he has not named them. The White House, led by Vice President JD Vance, is playing a key role in the negotiations, effectively acting as an investment bank in the sale process.
Legal and Constitutional Challenges
TikTok has pushed back against the U.S. government’s attempt to force its sale, arguing that the move violates the First Amendment, which protects free speech. Supporters claim that banning the app would unlawfully restrict Americans from accessing international media. However, national security concerns remain the central argument for those pushing for TikTok’s divestiture.
If Zoop’s bid succeeds, it would mark a major shift in the social media landscape. A platform designed to empower creators financially could change how social networks operate, potentially setting a new standard for revenue-sharing models. However, with Amazon and other major players in the mix, competition for TikTok remains fierce.
The coming weeks will determine whether ByteDance is forced to sell TikTok and which company, if any, will take over one of the most popular social media platforms in the U.S.
Stay Updated: Tech News
