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HBAR Foundation and Zoop’s TikTok bid highlights blockchain’s push into mainstream tech, aiming to shift value to creators.
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A pending HBAR ETF and ByteDance’s U.S. divestment deadline could catalyze investor interest and elevate HBAR’s profile.
Following the HBAR Foundation’s official entry into the ERC3643 Association, CNF reported that the partnership aims to accelerate compliant real-world asset (RWA) adoption across the Hedera ecosystem.
This strategic move coincides with the upcoming April 5 deadline, which requires TikTok’s parent company, ByteDance, to divest its U.S. assets or face a potential ban due to national security concerns.
A Creator-Centric Vision
According to a Reuters report, Tim Stokely’s Zoop and the HBAR Foundation are seeking to revolutionize TikTok’s ownership model by directly empowering creators and their communities.
RJ Phillips, co-founder of Zoop, emphasized that the proposal is not just about changing ownership but about realigning platform economics in favor of users.
Our bid for TikTok isn’t just about changing ownership, it’s about creating a new paradigm where both creators and their communities benefit directly from the value they generate,
Competing with Industry Giants
Meanwhile, as reported by The U.S. Sun and other outlets, the joint bid from Zoop and the HBAR Foundation faces stiff competition from major tech players, including Amazon.
While Amazon has reportedly submitted a last-minute offer for TikTok, sources suggest that some negotiators remain skeptical about the seriousness of their proposal.
The urgency to finalize a deal stems from legislative pressure, as ByteDance must comply with a federal order to divest TikTok’s U.S. operations. President Donald Trump recently stated that a resolution is expected before the April 5 deadline, with multiple non-Chinese buyers in consideration.
HBAR’s Market Position and ETF Prospects
Amid these developments, Hedera’s native cryptocurrency, HBAR, is gaining increased attention—particularly on platforms like Reddit.
Financial firm Canary Capital has filed both an amended S-1 form and a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) to launch the first-ever U.S.-listed HBAR ETF. This move reflects growing institutional interest and signals a new chapter in HBAR’s investment appeal.
Current HBAR Price
The collaboration between the HBAR Foundation and Zoop in their attempt to acquire TikTok underscores the accelerating convergence between blockchain technology and mainstream tech platforms. This bid reflects the crypto industry’s rising ambition to reshape the digital media landscape.
According to CoinMarketCap, HBAR is however currently trading at approximately $0.166, with a 24-hour trading volume of around $387 million, marking a 0.28% decrease in the past day and a 15.45% drop over the past week. See HBAR price chart below.
