Tether invests $775M in Rumble for crypto payments
Tether (CRYPTO:USDT) has announced a $775 million investment in video-sharing platform Rumble, marking a significant collaboration aimed at enhancing freedom of speech and financial independence.
“Tether deeply believes in the fundamental values of freedom of speech and financial freedom,” said Tether CEO Paolo Ardonio in a Dec. 20 statement on X.
Ardonio highlighted the importance of supporting technology and companies that deliver independence and resilience to society, adding that he is optimistic about the partnership with Rumble CEO Chris Pavlovski and his team.
The collaboration aims to develop solutions in advertising, cloud services, and cryptocurrency payments. Pavlovski expressed enthusiasm for the partnership, stating on Dec. 20, “YouTube, lookout. I’m coming for your monopolistic market share globally.”
Following the announcement, Rumble's (RUM) share price surged by 51.60% in after-hours trading, reaching $10.90, as reported by Google Finance.
This investment comes shortly after Rumble revealed its plans to add Bitcoin (CRYPTO:BTC) to its balance sheet.
On Nov. 25, the platform confirmed that its board of directors approved a strategy to allocate up to $20 million of excess cash reserves to Bitcoin.
The decision to integrate Bitcoin was well-received by the public, with a Nov. 19 poll on X showing that 93.9% of the 43,790 respondents supported the move.
Tether’s collaboration with Rumble underscores a growing trend of blockchain-based investments in content platforms, as they aim to provide alternatives to centralised services while integrating cryptocurrency into their ecosystems.
The partnership signals a strategic push to challenge dominant platforms like YouTube by leveraging decentralisation and financial innovation.
At the time of reporting, the Tether (USDT) price was $1.00.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.