The Hbar Foundation has teamed up with the founder of the Internet subscription site only fans, Tim Stokely, with the aim of acquiring the Chinese social media application Tiktok, according to a new Reuters report.
Stokely and the Hbar Foundation submitted an offer last week to the White House through the old crowdfunding company of the former, said Reuters.
“Our offer for Tiktok is not only to change the property, it is a question of creating a new paradigm where creators and their communities benefit directly from the value they generate,” said RJ Phillips, co-founder of Zoop, RJ Phillips.
The Hbar Foundation is the entity behind Hedera (Hbar), a intelligent assistance proof contract that was launched in 2018. With a market capitalization of $ 7.2 billion, Hbar is the 22nd largest existing cryptocurrency with regard to press time. The room has only reacted slightly to the news and is up 1.5% in the last 24 hours.
The duo’s offer for Tiktok is not the only one on the market. The online retail giant Amazon (AMZN) is also looking to acquire the platform, according to the New York Times.
The Hbar Foundation did not immediately respond to a request for comments.
