#cryptonews In recent cryptocurrency news, Rumble Inc., a video platform known for its free speech stance, announced a $775 million investment from Tether, a leading stablecoin issuer. This funding is intended to support Rumble's growth initiatives and includes a self-tender offer for up to 70 million common shares. Tether will acquire 103.3 million shares at $7.50 each, with the transaction expected to close in the first quarter of 2025. Rumble's CEO, Chris Pavlovski, will maintain his controlling stake, while Tether will hold a minority position without board representation. This partnership aligns with Rumble's commitment to free speech and decentralization, aiming to enhance user engagement and revenue.
Additionally, in 2024, losses from cryptocurrency hacks surged by 21%, reaching $2.2 billion, marking the fourth consecutive year with losses exceeding $1 billion. The number of hacking incidents also rose to 303 from 282 in 2023. Notably, North Korean hackers were responsible for $1.34 billion of these thefts, doubling their previous year's haul and accounting for two-thirds of global cryptocurrency thefts. These funds are partly used to support North Korea's ballistic missile and nuclear programs. One prominent heist involved the theft of 4,500 bitcoin, valued at $305 million, from Japanese crypto exchange DMM Bitcoin, which later closed operations due to the hack.
These developments highlight the dynamic and sometimes volatile nature of the cryptocurrency landscape, underscoring the importance of security and regulatory measures in the industry.