OnlyFans founder Tim Stokely's startup has submitted an eleventh-hour bid along with a cryptocurrency foundation to buy TikTok U.S., according to a Reuters report from Wednesday, joining the likes of e-commerce and tech giant Amazon (NASDAQ:AMZN), which also threw its hat in the ring for the short video content platform.

Stokely's startup Zoop and the Hbar Foundation, which manages the Hedera crypto network's treasury, sent an "intent to bid" this week to the White House, the report said.

"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," Zoop co-founder RJ Phillips reportedly told Reuters.

Phillips said his partners have been working with a consortium of investors but did not name them, nor did he provide details of the bid.

Media reports also suggested that mobile technology company AppLovin (NASDAQ:APP) is looking to make a bid for TikTok U.S. and is in talks with the Trump administration.

EU GDPR Breach

Separately, a Bloomberg report from Thursday, citing people familiar with the matter, said the app's Beijing-based parent, ByteDance (BDNCE), is expected to be slapped with a €500M+ fine before the end of the month by Ireland’s data protection commission for illegally sending European users’ data to China.

The report, citing people who spoke on condition of anonymity, said the app was in breach of the European Union’s General Data Protection Regulation by sending the information to China to be accessed by engineers. The exact size of TikTok’s fine and the timing of the decision aren’t final and could still change, they said.