PANews reported on April 3 that according to Reuters, the HBAR Foundation has teamed up with Tim Stokely, the founder of the internet subscription website OnlyFans, to try to acquire the social media app TikTok. Stokely and the HBAR Foundation submitted an acquisition proposal to the White House last week through Zoop, a new family-friendly crowdfunding company founded by Stokely. Zoop co-founder RJ Phillips said: "Our acquisition of TikTok is not just about changing ownership, but also about creating a new model that allows creators and their communities to directly benefit from the value they create." Phillips said the partners have been working with a group of investors. He declined to disclose the details of the acquisition or information about the investors supporting the acquisition.

Amazon also made a last-minute offer to acquire TikTok on Wednesday, The New York Times previously reported.