Rumble Secures $775 Million Tether Investment to Expand in Digital Ecosystem

Key Points:

• Rumble secured a $775 million Tether investment, with $250 million allocated for operations and the rest for a tender offer of up to 70 million shares at $7.50 per share.
• Tether and Rumble plan to collaborate on advertising, cloud services, and crypto payment solutions while Rumble CEO Chris Pavlovski retains control of the company.

Rumble, the video-sharing platform and cloud services provider announced a strategic investment of $775 million from Tether, the leading stablecoin issuer in the digital asset industry.

Read more: Tether On-chain Wallets Reach 109 Million By Q4 2024 

Rumble Secures $775 Million Tether Investment

Tether is known for its leading role in financial inclusion, boasting over 350 million users globally, and will take up a minority stake in Rumble at $7.50 a share.

A company statement said Rumble intends to use $250 million of the proceeds to enhance its operations. The balance will be used to fund a tender offer for as many as 70 million shares of Rumble’s common stock at the same price paid by Tether. With the Tether investment, Rumble Chairman and CEO Chris Pavlovski will retain his controlling interest in the company.

Crypto Momentum Fueled by Strategic Announcements

Tether and Rumble also plan to consider joint efforts in advertising, cloud services, and cryptocurrency payment solutions. Tether’s CTO Paolo Ardoino stated he is optimistic about the future of Rumble.

While Tether will hold a minority stake in Rumble, it will not gain representation on the company’s board. The Tether investment will further develop Rumble’s offerings and expand its reach in digital ecosystems through innovative technologies in video, advertising, and blockchain.