Tether has invested $775 million in Rumble, a video-sharing platform that champions free speech and aims to compete with YouTube. CEO Paolo Ardonio emphasized the importance of independence and resilience, while Rumble's CEO Chris Pavlovski expressed excitement about their partnership and plans to challenge YouTube's dominance. Following the investment announcement, Rumble's share price surged by over 51%.
Tether has announced a $775 million investment in Rumble, a video streaming platform that promotes free speech and positions itself as a YouTube alternative. The deal includes an initial cash investment of $250 million and will grant Tether 103.3 million shares at $7.50 each, expected to close in early 2025. Rumble plans to create a Bitcoin reserve, aiming to purchase up to $20 million in Bitcoin, reflecting its belief in the cryptocurrency's potential as a hedge against inflation.
Tether Limited is investing $775 million in video-sharing platform Rumble, leading to a 35.89% surge in Rumble's stock. The deal, which includes purchasing 103.3 million shares, aims to enhance decentralization efforts while allowing Rumble's CEO to retain control. Tether plans to diversify its investments, allocating funds for growth initiatives and shareholder liquidity.
Rumble has secured a $775 million investment from Tether, with plans to use $250 million for growth initiatives and the rest for a self-tender offer for up to 70 million shares. Following the announcement, Rumble's shares surged 35% in post-market trading. Tether aims to explore advertising and crypto payment solutions with Rumble, aligning their missions around decentralization and free speech. The transaction is expected to close in Q1 2025, pending regulatory approvals.
Rumble, a conservative video platform, plans to invest up to $20 million in bitcoin as part of a new treasury strategy, citing the cryptocurrency's potential as an inflation hedge. CEO Chris Pavlovski emphasized the importance of bitcoin in a world of government currency dilution. This move aligns Rumble with other companies like MicroStrategy and Tesla, as interest in bitcoin grows amid expectations of a pro-crypto stance from the incoming Trump administration.
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