Has made a bold move by investing $775 million in Rumble, a growing decentralized video-sharing platform that aims to challenge YouTube’s dominance. This strategic investment comes at a time when Tether’s profits have skyrocketed, surpassing $10 billion in 2024. The deal, announced on December 20, includes an initial cash injection of $250 million into Rumble, alongside an offer to purchase up to 70 million shares at a price of $7.50 each, totaling $775 million. Despite the investment, Rumble’s CEO and Chairman, Chris Pavlovski, will continue to maintain control of the company.
Paolo Ardoino, CEO of Tether, emphasized that this partnership reflects the shared commitment to decentralization, transparency, and freedom. He underscored Rumble’s potential to disrupt the traditional media landscape, where trust in established platforms like YouTube is waning. Ardoino highlighted that Tether’s investment is in line with its broader vision of supporting technologies and businesses that empower individuals and promote societal resilience, with a particular focus on preserving freedom of speech and financial independence.
For Rumble, this investment signals an opportunity to intensify its competition with YouTube, which currently boasts over 2.5 billion active users. Pavlovski made it clear that with Tether’s backing, Rumble plans to target YouTube's market share globally, positioning itself as a viable alternative for users seeking greater autonomy and transparency in content sharing.
In addition to the Rumble investment, Tether has diversified its portfolio significantly throughout 2024, venturing into industries such as agriculture, Bitcoin mining, AI, and education. Ardoino revealed that Tether will end the year with profits exceeding $10 billion, a significant portion of which has been reinvested to strengthen its position in the stablecoin market. Looking ahead, Tether plans to expand into the artificial intelligence sector, with an AI platform set to launch by early 2025, further solidifying Tether’s expanding technological presence in the digital landscape.
