The Blubber

A startup founded by Tim Stokely, the creator of the adult content platform OnlyFans, has teamed up with a cryptocurrency foundation to submit a late-stage bid to acquire TikTok from its Chinese parent company ByteDance, the two groups confirmed on Wednesday.

The proposal was formally submitted to the White House this week by Zoop—Stokely’s new venture—and the HBAR Foundation, which oversees the treasury for the Hedera cryptocurrency network.

Although OnlyFans is best known for its adult content, Zoop operates as a mainstream, family-friendly platform that shares the majority of its revenue with content creators, rewarding them for driving user engagement.

“Our bid for TikTok isn’t just about changing ownership,” said Zoop co-founder RJ Phillips. “It’s about creating a new paradigm where both creators and their communities benefit directly from the value they generate,” he told Reuters.

Phillips added that the Zoop-HBAR partnership has been working with a consortium of investors to put together the bid, though he declined to disclose specific financial details or name the backers involved.

Meanwhile, Amazon also reportedly submitted a last-minute offer to acquire TikTok, according to the New York Times.

President Donald Trump is expected to review proposals this week regarding the fate of TikTok, which is used by roughly 170 million Americans. ByteDance faces an April 5 deadline to either sell the platform or face a U.S. ban under national security grounds, as stipulated by a law that went into effect on January 19.

The legislation—passed with bipartisan support—reflects growing concerns in Washington over ByteDance’s Chinese ownership. Lawmakers fear Beijing could exploit the app for surveillance or propaganda purposes targeting American users.

Supporters of TikTok argue that banning the app would violate the First Amendment by restricting Americans’ access to foreign media.

After taking office in January, Trump delayed enforcement of the ban until April 5 to allow time to negotiate a potential deal. He has said he is open to extending the deadline further if necessary.

According to earlier Reuters reporting, discussions have centered around a proposal for ByteDance’s largest non-Chinese investors to increase their ownership stakes and assume control of TikTok’s U.S. operations.

Trump previously stated that his administration was in touch with four separate groups interested in acquiring the platform, though he did not name them.

In this high-stakes sale, the White House has taken on an unusually direct role in deal-making, with Vice President JD Vance overseeing the auction process.