Odaily Planet Daily reported that Tether, the world's largest stablecoin issuer, 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 by 44.6% in after-hours trading. Additionally, it is understood that a secret department under Tether is assisting in the development of 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, which is the same price as Tether's investment. Rumble's Chairman and CEO Chris Pavlovski will retain his controlling stake in the company and stated that he would not sell more than 10 million shares. Tether will purchase a total of 103,333,333 shares.