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Tether announces a $775 million investment in the alternative video-sharing platform Rumble.
What is Rumble?
Founded in 2013 by Chris Pavlovski, Rumble is a growing video-sharing platform positioned as an alternative to YouTube. It aims to provide content creators with more freedom and earning opportunities.
Tether and Rumble Collaboration
In a December 20 X post, Tether CEO Paolo Ardoino emphasized the company’s belief in freedom of expression and financial independence. Ardoino stated:
“Tether deeply believes in the values of freedom, and our strategic investment in Rumble underscores our mission to support companies that empower technology and people.”
Rumble is known for its anti-censorship stance and stands out as a video-sharing network alternative to YouTube. This collaboration includes plans to develop joint solutions in advertising, cloud technologies, and cryptocurrency payments.
Ambitious Goals from Rumble’s CEO Pavlovski
On the same day, Rumble CEO Chris Pavlovski expressed his intention to challenge YouTube’s global market dominance:
“Watch out, YouTube. I’m coming to challenge your monopolistic global market share.”
Following this announcement, Rumble’s (RUM) stock price surged by 51.60%, reaching $10.90 within hours.
Plans to Add Bitcoin to the Balance Sheet
Rumble’s board approved a strategy to allocate part of its excess cash reserves to Bitcoin, targeting a total investment of up to $20 million.
This decision came after Pavlovski conducted a poll on social media on November 19, where 93.9% of the 43,790 participants supported adding Bitcoin to Rumble’s balance sheet.
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