Rumble Secures $775 Million Investment From Tether

According to CoinDesk, video platform Rumble has announced a significant strategic investment deal with Tether, a leading stablecoin company, amounting to $775 million. This investment aims to bolster Rumble's operations and facilitate a tender offer for its common stock. Specifically, $250 million of the funds will be allocated to support Rumble's operational activities, while the remaining amount will be used to purchase up to 70 million shares of its common stock at $7.50 per share, matching the price Tether is paying for its stake. Rumble CEO Chris Pavlovski expressed enthusiasm about the partnership, stating that Tether is an ideal partner to propel Rumble into its next growth phase. Tether CEO Paolo Ardoino highlighted the declining trust in legacy media, suggesting that this creates a space for platforms like Rumble to provide credible and uncensored alternatives. Ardoino also mentioned Tether's plans to explore further collaborations with Rumble in advertising, cloud services, and crypto payment solutions. Following the announcement, Rumble's shares surged by 41% in after-hours trading, reaching $10.13. However, it remains unclear whether any of the investment proceeds will be used to acquire bitcoin for Rumble's balance sheet. Previously, Pavlovski had hinted at the possibility of the company investing in bitcoin, but no definitive plans have been disclosed.