Tether invests $775 million in video platform Rumble

Tether, the world's largest stablecoin issuer, has invested $775 million in Rumble, an online video sharing platform that competes with YouTube. The investment includes the purchase of 103,333,333 shares of Rumble's Class A common stock at a price of $7.50 per share. Rumble plans to use $250 million to maintain operations and growth, while the remainder will be used to buy back up to 70 million shares from current shareholders at the same price. The transaction is expected to be completed in the first quarter of 2025. Following this announcement, Rumble's RUM stock price increased sharply, up to 41% or 50% depending on the source. This investment reflects a strategic partnership between the two companies, which share a vision of freedom of expression, financial freedom and transparency. Additionally, Tether is also planning to launch an AI platform by the end of the first quarter of 2025.