Paolo Ardoino announced financial investments in Rumble.
Tether invests $775 million in video hosting platform
In November, Rumble decided to allocate $20 million to create a Bitcoin reserve.
Tether CEO Paolo Ardoino said the firm will invest $775 million in Canadian video hosting company Rumble, which is positioning itself as one of YouTube's main competitors.
Rumble was founded in 2013 by entrepreneur Chris Pawlowski. The company provides video hosting and cloud storage services, and its creator is known for his conservative political views.
Pawlowski has repeatedly criticized YouTube for censoring content, and in 2021 he sued Google. According to Rumble, the company manipulated search queries, giving its video hosting an illegal advantage.
Paolo Ardoino stated that Pawlowski and his team have created a modern and progressive platform. According to the Tether CEO, he looks forward to starting a collaboration with Rumble representatives.
According to available information, the companies will develop advertising and cryptocurrency areas. In addition, the firms plan to work together in the field of cloud storage systems.
In November 2024, it became known that Rumble had allocated $20 million to create its own Bitcoin reserve. At the same time, the head of the company himself initially made such a proposal.
Commenting on the agreement with Tether, Pavlovsky said that Google's video hosting should prepare for increased competition in the market.
“Tether believes deeply in the fundamental values of free speech and financial freedom,” Ardoino wrote on the social network X (formerly Twitter).
