Tether, a stablecoin giant, has made a strategic investment of $775 million in video-sharing platform Rumble. The deal will see Rumble use $250 million to support operations and fund a tender offer for up to 70 million shares at $7.50 per share.
The investment is seen as an opportunity for Rumble to grow its presence and compete with established platforms like YouTube. CEO Chris Pavlovski believes Tether’s partnership will “put a rocket pack on the back of Rumble” as it prepares for its next phase of growth.
Tether CEO Paolo Ardoino stated that his company aims to drive meaningful relationships with Rumble in areas such as advertising, cloud solutions, and crypto payments. The move comes as legacy media faces declining trust, creating an opening for platforms like Rumble to offer a credible, uncensored alternative.
As a result of the deal, RUM shares have surged 41% to $10.13.
Source: https://www.coindesk.com/business/2024/12/20/tether-takes-75-m-stake-in-video-sharing-platform-rumble