The HBAR Foundation and Zoop, a social app founded by Tim Stokely, have reportedly submitted a bid to acquire TikTok in the United States. This move comes as a result of a recent law passed by Congress that mandates ByteDance to divest ownership of TikTok or face a ban starting April 5. Zoop co-founder RJ Phillips emphasized that their bid aims to create a new model benefiting both creators and their communities. The legislation, signed by former President Joe Biden in 2024, required the company's operations to be separated from its Chinese parent company, ByteDance, by a deadline that was initially set for January 19 but later extended by President Trump to April 5. As of now, major technology companies such as Amazon and Microsoft have also expressed interest in bidding for TikTok, making this a competitive landscape.

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