The TikTok USA deal is heating up as HBAR Foundation – the organization operating the Hedera blockchain (HBAR) – unexpectedly joined the bidding to acquire this platform, along with the participation of Zoop, a social network founded by Tim Stokely, the creator of OnlyFans. This information immediately affected the price of HBAR, causing the coin to rise by 3.5% before the general market erased the gains.

TikTok USA faces pressure to change ownership

In 2024, the US Congress passed a law requiring ByteDance, the parent company of #tiktok , to sell the app to a non-Chinese entity if it wants to continue operating in the US. If not, TikTok risks being permanently banned due to national security concerns. The US government fears that user data could be shared by ByteDance with the Chinese authorities.

Initially, former President Joe Biden required ByteDance to complete the transfer deal by January 19, 2025. However, when Donald Trump took office on January 20, he extended the deadline by 75 days, pushing it to April 5, 2025.

In this context, a series of tech corporations have jumped into the race to acquire TikTok USA, including Amazon, Microsoft, Rumble, and even the founder of Reddit. But the most notable is the emergence of HBAR Foundation and Zoop, with ambitions not only to take over TikTok but also to create a new model serving the community and content creators.

HBAR Foundation and Zoop – Ambitious plan

According to Reuters, the bidding proposal from #HBARFoundation and Zoop is not just about acquiring TikTok but also proposes a new economic model for this platform. RJ Phillips, co-founder of Zoop, stated that they hope to create a system beneficial to both content creators and users – those who have contributed significantly to the development of TikTok.

This could open up the possibility of a more transparent revenue-sharing model, or even integrating blockchain into the TikTok ecosystem. If this becomes a reality, HBAR could become one of the most important blockchains in the social media sector, revolutionizing how users earn money from digital content.

Will TikTok really be sold?

Although $TRUMP has extended the time for ByteDance to seek a buyer for TikTok USA, whether TikTok will be sold remains a big question mark. Theoretically, Trump could continue to delay this deal by signing another extension order.

However, the final decision still lies with the US Congress. If this agency decides to maintain the requirement for ByteDance to sell TikTok, then this deal will have to take place in the coming months.

Market reaction – HBAR price fluctuates significantly

As soon as the information about HBAR Foundation participating in the bidding for TikTok USA was announced, the price of HBAR rose from $0.174 to $0.18 (an increase of 3.5%). However, this upward trend did not last due to pressure from the general market, causing the price of HBAR to drop back.

Currently, HBAR has a market capitalization of about $7.2 billion and ranks 22nd in the cryptocurrency market. If HBAR Foundation successfully takes over TikTok USA, HBAR could become a cryptocurrency with wide practical applications, especially in the digital content industry.

The impact of Trump's tax policy on the financial market

Alongside the TikTok deal, the Trump administration recently announced a series of reciprocal tariffs on 180 countries and territories to address the prolonged trade deficit of the US. This has shaken the global financial market.

Bitcoin – the king coin of the crypto market – has lost the momentum of the previous day and decreased by 1.2% in 24 hours. Since January 20 (when Trump took office), Bitcoin has dropped from over $100,000 to $83,618, reflecting investor caution before new policies.

What future awaits HBAR and TikTok USA?

The involvement of HBAR Foundation and Zoop in bidding for TikTok USA is a surprising move, but it carries significant potential. If they can implement a decentralized economic model on TikTok, this would not only open new development opportunities for the HBAR blockchain but also create a revolution in the digital content industry.

However, this deal still depends on many factors, especially the final decision of the US administration. Will TikTok be sold? Can HBAR Foundation beat other tech giants? And if successful, can HBAR become an important blockchain platform in the social media field? The answer remains uncertain, but it is certain that the crypto and technology markets will continue to closely monitor this deal. #anhbacong