According to media reports, the world's largest stablecoin issuer Tether has made a $775 million 'strategic investment' in the YouTube alternative platform Rumble. Last month, the video platform announced it would allocate up to $20 million from its excess cash reserves to Bitcoin. According to Yahoo Finance, following the news of Tether's investment, the stock surged 44.6% in after-hours trading. Additionally, it is understood that a secret division under Tether is helping to develop a peer-to-peer chat and video conferencing application called Keet, which is built using technology created by Tether CEO Ardiono's other company Holepunch. Rumble stated that it will use $250 million of the funds to 'support growth plans', while the remaining funds will be used to acquire up to 70 million Class A common shares at a price of $7.50 per share, the same price as Tether's investment. Rumble's chairman and CEO Chris Pavlovski will retain his controlling stake in the company and has stated that he will not sell more than 10 million shares. Tether will purchase a total of 103,333,333 shares. (TheBlock)