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Rumble Secures Whopping $775 Million Investment from Tether
In a massive deal that is sending shockwaves across the crypto and blockchain industries, video-sharing platform Rumble has secured a staggering $775 million investment from stablecoin issuer Tether. This monumental partnership marks a significant milestone for both companies as they join forces to drive growth and expansion.
As part of the agreement, Tether will purchase 103,333,333 shares of Rumble Class A Common Stock at a whopping $7.50 per share. In an effort to fuel its growth initiatives and provide liquidity to stockholders participating in the self-tender offer, Rumble will allocate a substantial $250 million of the funds raised towards these endeavors.
CEO Chris Pavlovski expressed his enthusiasm for the collaboration, highlighting the deep connection between the crypto and free speech communities. He emphasized that this investment would not only accelerate Rumble’s growth initiatives but also provide an immediate liquidity event for stockholders participating in the self-tender offer.
Tether CEO Paolo Ardoino echoed these sentiments, noting that both companies share a commitment to decentralization, independence, and transparency. The executive expressed his excitement about driving towards meaningful advertising, cloud, and crypto payment solutions with Rumble, sparking speculation among users on X about potential tipping and payment integrations that would transition the video-sharing platform away from traditional payment rails.
Notably, this news comes shortly after Rumble’s board approved a treasury strategy to allocate up to $20 million to Bitcoin. This renewed interest in crypto further reinforces the company’s desire to dive deeper into the digital assets market.
The transaction is expected to close during the first quarter of 2025, pending regulatory and antitrust clearances.
Source: cryptobriefing.com
