Written by: Maher, Foresight News

On March 23, Leonid Radvinsky, the actual controller of OnlyFans, passed away after a long battle with cancer at the age of 43. A spokesperson for OnlyFans simply stated "peacefully passed away" and urged the public to respect the family's privacy.

OnlyFans is a content subscription platform based in London, UK, where creators upload exclusive content, and fans pay a monthly subscription fee. It is primarily focused on adult content creators but also covers areas such as fitness, music, and cooking. According to the latest data from 2025, the number of OnlyFans user accounts has stabilized at approximately 377.5 million, with the number of creators growing to 4.63 million. Currently, the market valuation of OnlyFans is around $18 billion, making it the highest-valued private company in the global subscription creator economy platform.

Radvinsky was a Ukrainian-American who rarely appeared in public. However, in 2018, he acquired 75% of the parent company of OnlyFans, turning a small platform that started in the UK into a cash cow with an annual transaction volume exceeding $6 billion. When he took over OnlyFans in 2018, the platform was merely a "paid Instagram" created with a £10,000 loan by Tim Stokely's family. After Radvinsky's substantial acquisition, he firmly redirected the platform's focus to adult content, leading to explosive user growth during the pandemic, with over $700 million received in dividends in 2024 alone.

Little is known about Radvinsky's stance on cryptocurrency — he never publicly endorsed any chain, but he did explore the crypto world.

Purchased over ten million dollars in ETH, also donated to Ukraine DAO

During his control, OnlyFans quietly launched a small feature in February 2022: support for Ethereum-verified NFTs as profile pictures. The platform explicitly stated that this was the "first step in exploring the role of NFTs on the platform." Creators' NFT avatars carried a small Ethereum icon, and clicking on it would redirect to OpenSea for more details.

This feature may seem insignificant, but it allowed millions of adult creators to directly interact with crypto assets for the first time.

This move came early. That year, the NFT craze was at its peak, with Twitter launching NFT avatars, and OnlyFans following up quickly.

Less known is that Fenix International, the parent company of OnlyFans, also purchased tens of millions of dollars in ETH.

According to the company’s financial statements from the end of November 2022, Fenix had purchased approximately $19.9 million worth of ETH and listed it as intangible assets. Due to the cryptocurrency market crash in 2022, the price of Ethereum fell significantly, and the company recognized an impairment loss of about $8.46 million that year, adjusting the ETH holding's value to approximately $11.4 million.

As of now, the OnlyFans platform has not opened up crypto payments; users still rely on credit cards or third-party virtual cards. During Radvinsky's era, OnlyFans resembled a blend of "traditional finance + adult content," with a 20% cut and a terrifyingly stable cash flow.

Shifting focus to the Russo-Ukrainian war, in 2022, a group of cryptocurrency activists and enthusiasts quickly gathered to support Ukraine.

Their method was to auction an NFT artwork depicting the Ukrainian flag. In an auction organized by the decentralized autonomous organization "Ukraine DAO," they raised 2,258 Ether, worth around $6.79 million at the time.

According to subsequent reports from Decrypt, the adult site OnlyFans also participated in this donation.

Blockchain tracking platform Etherscan shows that on February 27, an address named only.eth donated 500 ETH to the Ukraine DAO, which is now valued at $1.079 million.

Zapper data shows that the only.eth address was created in May 2021, and its total wallet value is currently under $2,000, with the last wallet transfer activity occurring three years ago.

However, it was the founder Tim Stokely who truly brought OnlyFans' ethos into crypto.

In 2016, Stokely founded the OnlyFans platform, resigning as CEO in December 2021 to make a complete shift. In May 2022, he, along with former OnlyFans executive RJ Phillips, launched Zoop — a NFT trading card platform based on the Polygon chain.

Zoop is positioned as fully "family-friendly": selling 3D digital trading cards of celebrities and influencers, where users can buy, sell, trade, and collect, with benefits airdropped. Limited editions are issued, with an emphasis on creator revenue sharing. Zoop is essentially transporting OnlyFans' "fans paying directly for content" model into the Web3 collectibles space.

In April 2025, Zoop, together with the HBAR Foundation (the treasury management body of the Hedera chain), submitted a bid to acquire TikTok's US operations. The core of the proposal was Web3 integration: Hedera's scalability would be used to support TikTok's NFTs, creator payments, governance structure, and the overall token incentive system, aiming to directly distribute 80% of advertising revenue to creators and users.

In the end, for various reasons, the intended bid did not come to fruition. Tim Stokely stepped out of the adult empire but brought the core logic into Zoop and Hedera's TikTok bid, effectively upgrading the "fans paying for content" model to a Web3 version.

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