Stablecoin issuer Tether has announced a $775 million investment in Rumble, a video platform competing with YouTube. Described as an anti-censorship platform, Rumble will receive $250 million initially in cash. Tether will acquire 103.3 million shares of Rumble common stock, with CEO Chris Pavolski retaining control. The investment, priced at $7.50 per share, is set to finalize in early 2025. Following the news, Rumble's stock surged by 40.75% in after-hours trading, reaching $10.57. Launched in 2013, Rumble focuses on free speech and has gained popularity among conservative creators. Tether's CEO highlighted shared values of decentralization and free expression. Rumble plans to establish a Bitcoin reserve amid rising BTC prices. The partnership aims to enhance advertising, cloud, and crypto payment solutions for Rumble. Read more AI-generated news on: https://app.chaingpt.org/news
Tether Invests $775 Million in Rumble Following YouTube Rival's Bitcoin Push
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
96,512.01
-2.26%
Replies 0