Tether, a prominent stablecoin venture, is investing $775 million in Rumble, a video-sharing platform and cloud provider that has gained popularity among conservative hosts and content creators. The deal values Rumble at $250 million, with the remaining funds to be used for a self-tender offer to purchase up to 70 million shares of its Class A Common Stock.
Rumble competes with YouTube and features popular conservative commentators like Dan Bongino and Steven Crowder, as well as journalist Glenn Greenwald and gamer Dr. Disrespect. The platform’s shareholders include Bongino and venture capital firm co-founder JD Vance, who has a personal stake in Rumble valued between $100,000-$250,000.
Tether CEO Paolo Ardoino said the investment aligns with their shared values of decentralization, independence, transparency, and free expression. “Legacy media has increasingly eroded trust,” he added, highlighting the need for platforms like Rumble to offer a credible, uncensored alternative.
Under the deal, chairman and CEO Chris Pavlovski will retain a majority stake in Rumble but may sell up to 10 million shares as part of the tender offer. Tether’s investment is expected to provide liquidity for Rumble’s stockholders and fuel the company’s growth initiatives.
Source: https://www.hollywoodreporter.com/business/digital/video-platform-rumble-investment-crypto-stablecoin-tether-1236092041