Stablecoin Issuer Tether Invests $775 Million in Rumble, a Decentralized Video Streaming Platform
Deal Sees Tether Receive 103.3 Million Shares of Rumble Common Stock
Tether, the company behind the USDT stablecoin, has announced a significant investment in Rumble, a decentralized video streaming platform. The deal sees Tether investing $775 million in Rumble, with the cryptocurrency company ultimately receiving 103.3 million shares of Rumble common stock.
Rumble: A Decentralized Video Streaming Platform
Rumble is a video streaming platform that bills itself as an anti-censorship platform. Launched in 2013 by technology entrepreneur Chris Pavlovski, Rumble is focused on free speech and has become a popular alternative to YouTube for conservative and far-right content creators.
Tether’s Investment in Rumble
Tether’s investment in Rumble is seen as a strategic move by both companies. The deal is expected to close in early 2025 and will see Tether receive a controlling stake in Rumble. Rumble CEO Chris Pavlovski will retain a controlling stake in the streaming platform.
Rumble’s Growth and Plans
Rumble’s growth has been rapid in recent years, with the company’s RUM stock rising 40.75% in after-hours trading following the announcement. The company plans to use the investment to drive its growth and expansion plans.
Tether’s Values Align with Rumble’s Mission
Tether’s CEO, Paolo Ardoino, stated that Tether’s investment in Rumble reflects the company’s shared values of decentralization, independence, transparency, and the fundamental right to free expression. He noted that legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative.
FAQs
- What is Rumble? Rumble is a decentralized video streaming platform that bills itself as an anti-censorship platform.
- Who is behind Rumble? Rumble was launched in 2013 by technology entrepreneur Chris Pavlovski.
- What is Tether’s investment in Rumble? Tether is investing $775 million in Rumble, with the cryptocurrency company ultimately receiving 103.3 million shares of Rumble common stock.
- What are the plans for Rumble’s growth? Rumble plans to use the investment to drive its growth and expansion plans.
- What are Tether’s values that align with Rumble’s mission? Tether’s values of decentralization, independence, transparency, and the fundamental right to free expression align with Rumble’s mission.
Conclusion
The investment by Tether in Rumble is a significant move by both companies. The deal reflects Tether’s values of decentralization, independence, transparency, and the fundamental right to free expression, which align with Rumble’s mission. The investment is expected to drive Rumble’s growth and expansion plans, and will see Tether receive a controlling stake in the streaming platform. As the world continues to move towards decentralized and community-owned media platforms, this investment is a significant step towards achieving that goal.
