Tether, renowned for issuing the largest stablecoin worldwide, has publicized a significant strategic investment of $775 million in Rumble, a video sharing platform. This significant move occurs short on the heels of Rumble publicizing its decision to incorporate Bitcoin into its fiscal framework. Rumble, recognized for its unfettered content sharing policies, offers an alternative space to YouTube.
Paolo Ardonio, Tether’s CEO, in a public statement on December 20, emphasized Tether’s commitment to safeguarding free speech and pecuniary unrestraint. He further stressed that the financial investment in Rumble aligns strongly with Tether’s ethos of backing technologies and entities that underscore human empowerment and provide steadfastness and independence to society.
Ardonio highlighted his optimism about the promising venture Rumble’s CEO, Chris Pavlovski, and his team have conceived. The anticipation is high for future mutual endeavors to shape a “collective vision”. A joint scheme in marketing, cloud technology, and cryptographic payment solutions stands in the pipeline.
Pavlovski resonated Ardonio’s sentiment boldly in a post on December 20, claiming to be excited about the future. He further stirred the pot when he unleashed his intention to disrupt YouTube’s monopolistic market shares worldwide. Following these disclosures, Rumble’s stock price (RUM) saw a marked increase of 51.60% in after-hours trading, reaching an impressive $10.90 as per Google Finance.
On November 25, an announcement from Rumble revealed an ambitious plan to introduce Bitcoin into its fiscal reserves, a decision that was unanimously approved by its board of directors. Pavlovski had hinted at this possibility earlier on November 19, inviting audience opinion on social media, with an overwhelming 93.9% out of 43,790 voters in favor of the proposal.