- Tether invests $775M in Rumble, acquiring shares at $7.50 each, boosting Rumble’s growth by $250M.
- Rumble’s stock price surged 50% post-announcement, with plans to challenge YouTube’s dominance globally.
- Rumble board allocates $20M for Bitcoin purchase, backed by 93.9% support in a user poll.
Tether, the world’s largest stablecoin issuer, has invested $775 million into Rumble, an alternative video-sharing platform. Known for its commitment to free speech, Rumble offers uncensored content, making it an attractive ally for Tether. The investment highlights Tether’s dedication to fostering financial and societal independence.
Tether CEO Paolo Ardoino expressed enthusiasm in a Dec. 20 X post, emphasizing the partnership’s alignment with Tether’s values. “Our investment underscores our focus on empowering technology and companies that enhance freedom and resilience,” Ardoino stated. The collaboration targets advertising, cloud solutions, and crypto payment systems, expanding Rumble’s technological horizons.
Tether Drives Rumble’s Expansion Plans
Rumble CEO Chris Pavlovski expressed optimism on the same day, vowing to challenge YouTube’s market dominance. “YouTube, look out. I’m coming for your monopolistic market share globally,” he declared. According to Google Finance data, Rumble’s stock price surged 51.6% and fell down to 50.07% at the time of writing in after-hours trading, reaching $10.79 reflecting investor confidence in the platform’s potential.
Tether’s investment secures a minority stake at $7.50 per share, further cementing Rumble’s growth plans. Rumble plans to use $250 million from the investment to enhance operations and allocate the remainder to a tender offer for up to 70 million shares of its common stock.
Tether and Rumble’s leaders envision the partnership as a game-changer for their industries. Ardoino highlighted legacy media’s eroding trust, calling Rumble a credible alternative. Pavlovski lauded USDT as the “perfect partner” to propel Rumble’s next growth phase, emphasizing their mutual goal of innovation and disruption.
Rumble’s $20M Bitcoin Strategy Unveiled
The partnership may extend to cryptocurrency adoption. Pavlovski teased interest in adding Bitcoin to Rumble’s balance sheet. In November, Rumble’s board approved a plan to purchase up to $20 million in Bitcoin, reflecting the growing institutional adoption of the leading cryptocurrency.
Rumble’s Bitcoin strategy aligns with its long-term vision of financial diversification. Pavlovski noted Bitcoin’s potential as an inflation hedge, highlighting its advantages over fiat currencies. The platform’s board authorized using a portion of cash reserves for Bitcoin, signalling confidence in its value amid increasing institutional and governmental acceptance.
Pavlovski showed on November 29 X post that 93.9% of respondents supported the Bitcoin acquisition plan. The overwhelming support underlines the platform’s alignment with crypto-friendly initiatives, further solidifying its appeal to a tech-savvy audience.
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