Tether Reveals Major Investment in YouTube Competitor

Rumble, the popular video-sharing platform, is set to receive a major boost with a $775 million investment from Tether, the stablecoin issuer known for its commitment to decentralization.

This deal includes Tether acquiring over 103 million shares of Rumble Class A Common Stock at $7.50 per share, creating new opportunities for the platform’s growth and shareholder engagement.

The agreement allocates $250 million toward expanding Rumble’s operations and initiatives, while the remaining funds will be used for a self-tender offer targeting up to 70 million Class A shares. Despite the significant investment, CEO Chris Pavlovski will maintain control of the company, underscoring his leadership role during this transformative phase.

The announcement has already sparked market excitement, with Rumble’s shares climbing 35% in after-hours trading to reach $9.80, a sharp increase from the previous closing price of $7.18. Pavlovski highlighted the partnership’s strategic importance, pointing to shared values between Rumble’s free speech advocacy and the cryptocurrency community’s focus on financial independence and decentralization.

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Tether’s CEO, Paolo Ardoino, emphasized the alignment between the two companies, describing their mutual commitment to transparency and resilience. He hinted at future collaborations that could integrate Tether into Rumble’s ecosystem, possibly for crypto payments or tipping, which would represent a shift from traditional payment systems to blockchain-based solutions.

Adding to its crypto-focused moves, Rumble recently approved a plan to invest up to $20 million in Bitcoin, signaling its deeper commitment to blockchain technology. The Tether deal is expected to close in early 2025, pending regulatory and antitrust reviews, potentially positioning Rumble at the forefront of merging digital content platforms with cryptocurrency innovations.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.