According to the latest development, Hedera (HBAR) made an offer to buy TikTok together with the founder of another company.
While financial details and key investors backing the bid were not disclosed, the offer comes amid growing uncertainty about TikTok’s future in the United States. The platform, which serves 170 million American users, is under scrutiny over national security concerns related to its Chinese ownership. ByteDance is seeking an April 5 deadline to divest TikTok’s U.S. operations or risk a full ban following a law that went into effect on Jan. 19.
Meanwhile, there are reports that Amazon has also made a last-minute bid for the platform, adding further complexity to the high-stakes negotiations. US President Donald Trump, who has postponed the implementation of his divestment-or-ban law until April 5, is set to consider a bid that could determine TikTok’s fate in the US.
*This is not investment advice.
