Tether, the largest company in the digital asset sector, has invested $775 million in Rumble, a video-sharing platform positioning itself as a competitor to mainstream services like YouTube.
Tether CEO Paolo Ardonio highlighted the investment as part of the company’s broader mission to support innovative technologies and businesses that encourage independence and resilience.
“Tether deeply believes in the fundamental values of freedom of speech and financial freedom,” Ardonio stated in a December 20th post on X.
Tether deeply believes in the fundamental values of freedom of speech and financial freedom.
Our strategic investment in Rumble greatly underscores @Tether_to 's focus in supporting technology and companies that empower humans, delivering independence and resilience to our… https://t.co/vHYVbQJnKk
— Paolo Ardoino 🤖🍐 (@paoloardoino) December 20, 2024
He also noted plans to collaborate with Rumble on advertising, cloud solutions, and Bitcoin and cryptocurrency payment systems.
BREAKING NEWS: Rumble Announces $775 Million Strategic Investment from Tether
“Beyond our initial shareholder stake, Tether intends to drive towards a meaningful advertising, cloud, and crypto payment solutions relationship with Rumble.” – @paoloardoino pic.twitter.com/eDm2O8GIyY
— Rumble 🏴☠️ (@rumblevideo) December 20, 2024
Rumble CEO Chris Pavlovski expressed enthusiasm about the partnership and emphasized the platform’s competitive ambitions.
YouTube, lookout.
I’m coming for your monopolistic market share, globally.
— Chris Pavlovski 🏴☠️ (@chrispavlovski) December 20, 2024
The announcement coincided with a significant increase in Rumble’s stock price (RUM), which surged 51.60% in after-hours trading to reach $10.90.
Separately, Rumble confirmed plans to integrate Bitcoin into its financial strategy. On November 25th, the company’s board approved an initiative to allocate up to $20 million of excess cash reserves to Bitcoin.
This followed a poll conducted by Pavlovski on November 19th, where 93.9% of over 43,000 respondents supported the move.
Lets put this in a poll format…
Should Rumble add Bitcoin to its balance sheet?
— Chris Pavlovski 🏴☠️ (@chrispavlovski) November 19, 2024
Dave Portnoy, founder of Barstool Sports, acknowledged Rumble and its CEO, Chris Pavlovski, in a post on X and announced Pavlovski’s upcoming appearance on his podcast to discuss Rumble’s plans and recent developments.
Congrats to @rumblevideo @chrispavlovski will be on #ddtg to discuss $rum https://t.co/tDmaRqahaP
— Dave Portnoy (@stoolpresidente) December 20, 2024
Tether’s investment highlights Rumble’s efforts to enhance its technological capabilities and strategic partnerships, aligning with Tether’s commitment to fostering innovation and financial freedom.