Tether Invests $775 Million in Rumble Following YouTube Rival's Bitcoin Push
Tether has announced a $775 million investment in streaming platform Rumble, recognized as a competitor to YouTube, which promotes itself as an anti-censorship site. This investment will initiate with $250 million in cash and is designed to provide Tether with 103.3 million shares of Rumble's common stock, priced at $7.50 per share. Following the announcement, Rumble’s stock surged over 40% in after-hours trading. Rumble, founded by Chris Pavlovski in 2013, has gained traction among content creators for its focus on free speech, particularly attracting conservative voices. Tether CEO Paolo Ardoino highlighted that their investment aligns with shared values of decentralization and transparency, addressing the declining trust in legacy media. This strategic partnership aims to enhance Rumble’s capabilities in advertising, cloud services, and cryptocurrency payments. Rumble has also expressed intentions to include Bitcoin in its balance sheet, reflecting a broader trend as institutional adoption of Bitcoin increases, driven by potential inflation hedging benefits.
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