Rumble receives a $775 million investment from Tether 💰🚀
What happened?: Rumble, the alternative video platform, has announced a strategic investment of $775 million from Tether, one of the leading stablecoin companies. Of this amount, $250 million will be allocated to support Rumble's operations, while the rest will be used to purchase up to 70 million common shares at $7.50 per share.
Temporal context: The announcement was made recently, and Rumble's shares surged 41% in after-hours trading, reaching $10.13.
Initial impact: This move reflects the growing confidence in Rumble and its potential to challenge traditional video platforms.
🔍 What does it imply?
Tether: Tether's investment in Rumble could indicate a vote of confidence in the platform's business model, especially at a time when distrust in traditional media is on the rise.
Rumble: This significant financial contribution will allow Rumble to strengthen its operations and expand its reach, possibly through new features and services.
