The video platform Rumble, positioned as a competitor to YouTube, announced a strategic investment of $775 million from the market leader in stablecoins, Tether, according to Coindesk. Rumble plans to allocate $250 million to support operations, with the remaining funds being used for a tender offer to repurchase up to 70 million shares at $7.50 per share — the same price Tether paid for its stake.
“"I truly believe that Tether is the perfect partner to provide Rumble with the powerful boost needed for the next stage of growth," said Chris Pavlovski, CEO of Rumble.
Tether CEO Paolo Ardoino highlighted the synergy between the companies and their shared mission to challenge traditional media and create alternative platforms.
“Traditional media is increasingly losing trust, creating an opportunity for platforms like Rumble to offer a reliable, uncensored alternative,” said Ardoino. He also mentioned that Tether plans to deepen the partnership by collaborating with Rumble in advertising, cloud services, and crypto payments.
Following the announcement, Rumble's shares rose 41% in after-hours trading, reaching $10.13, signaling strong market confidence in the new partnership.