HBAR Foundation and Tim Stokely Compete with Amazon for TikTok Acquisition!

Jakarta, Pintu News – This week, blockchain-linked HBAR Foundation Hedera announced a strategic partnership with OnlyFans founder Tim Stokely to make a final bid to acquire TikTok. The move marks a serious competition with tech giants like Amazon for the popular video and micro-messaging platform.

Check out the full news below!

Strategic Deals for TikTok

HBAR Foundation, along with Tim Stokely’s startup Zoop, have submitted an Intent to Bid to the White House.

In an interview with Reuters, RJ Phillips, co-founder of Zoop, revealed that this offering is not just about a change in ownership but also about creating a new paradigm where creators and their communities can directly benefit from the value they create.

This offer comes as the deadline set for ByteDance, TikTok’s parent company, to sell its US operations approaches on April 5. If not sold, TikTok risks being taken over by the Trump administration as a bank. While the offer is ambitious, it remains unclear how the HBAR Foundation and Zoop will fare in managing the platform.

Also read: Mintology CEO Zach Burks: “‘Liberation Day’ Will Rock the Crypto Market!”

Hedera Admission and HBAR ETF

Although Hedera is not among the top 15 digital currencies, its institutional adoption is expanding. The HBAR ETF is one of the crypto exchange-traded funds awaiting approval from the US Securities and Exchange Commission (SEC).

Canary Capital filed for the Hedera ETF in January. Since then, many analysts have focused attention on the price of Hedera.

With Hedera’s price momentum increasing, there is speculation that it could jump to $0.9 in the long run. This suggests a more intense adoption of Hedera, mainly due to its enterprise capabilities.

Read also: Binance Rejects Pi Network in Listing Selection Initiative, What’s Up?

Crypto Company Diversification

The HBAR Foundation’s offer to enter social media is indicative of a growing trend in the digital currency ecosystem. This move shows how much importance crypto companies are now placing on diversification.

Tether, for example, recently bought 8,888 Bitcoin (BTC) units while taking a stake in BeWater, an Italian digital media company. Other projects, such as JellyJelly, are also exploring stakes in entities that are not crypto-focused, emphasizing the need to extend crypto innovation into other ecosystems.

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Reference

• Coingape. Hedera’s HBAR Foundation Takes on Amazon with TikTok Bid. Accessed on April 4, 2025
• Cointelegraph. HBAR Foundation, OnlyFans Founder Tik Tok. Accessed on April 4, 2025
• Featured Image: Crypto Rank