- OnlyFans founder Tim Stokely and the HBAR Foundation have submitted a late-stage bid to acquire TikTok’s U.S. operations before the April 5 deadline.
- The U.S. government has mandated ByteDance to divest TikTok or face a ban, citing national security concerns about potential Chinese government influence.
- Multiple tech companies including Amazon, Microsoft, Walmart, and Oracle have expressed interest in acquiring the platform that has over 170 million American users.
Tim Stokely, founder of OnlyFans, has partnered with the HBAR Foundation to submit a last-minute bid for TikTok’s U.S. operations, according to Reuters. The offer comes just days before the April 5 deadline that could see TikTok banned in the United States under national security legislation that requires Chinese-owned ByteDance to divest the platform.
The bid was submitted through Stokely’s new venture, Zoop, in collaboration with the HBAR Foundation, which manages the Hedera blockchain’s treasury. This late entry adds to a growing list of potential buyers seeking to acquire the social media platform that boasts more than 170 million American users.
Government Pressure Intensifies
President Trump met with officials on April 2 to discuss TikTok proposals, as reported by The New York Times. The bipartisan legislation, which took effect January 19, mandates ByteDance to sell TikTok or face prohibition based on concerns that Beijing could use the app for surveillance or disinformation campaigns – allegations ByteDance has consistently denied.
Vice President J.D. Vance is reportedly leading efforts to find suitable buyers or investors for the platform. Trump has delayed enforcement of the ban until April 5 to allow time for security reassessments and potential acquisition negotiations.
Tech Giants Join Bidding War
The competition for TikTok’s U.S. operations has attracted numerous high-profile bidders. Amazon submitted a last-minute offer this week, joining previously interested parties including Microsoft, Walmart, and Oracle.
In March, Reddit co-founder Alexis Ohanian expressed interest in acquiring TikTok with plans to integrate it into blockchain infrastructure. Earlier rumors about Elon Musk taking over the platform were dismissed as “pure fiction” in January.
The flurry of bids highlights TikTok’s significant position in the social media landscape and the high stakes involved in its potential divestiture. With the deadline approaching rapidly, the U.S. government and potential buyers face mounting pressure to resolve the situation before possible enforcement actions begin.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Kraken Secures Canadian Dealer Registration, Expands North America
- Cuomo hired by OKX to advise on federal probe leading to $505M fine
- OpenAI Reinstates Notorious Jailbreaker After Brief Ban Over Policy
- Bitcoin Volatility Hits 11-Month High as Price Swings Between $77K-$94K
- Trump Announces ‘Reciprocal Tariffs’ Against US Trading Partners
