The post Tether Invests Whopping Sum in Video Platform Rumble appeared on BitcoinEthereumNews.com.

Tether, the issuer of the largest stablecoin USDT, announced its investment in Rumble, a flagship video sharing platform and cloud service provider. Out of a whopping $775 million invested, $250 million will immediately fuel Rumble’s growth initiatives. Tether backs Rumble with $775 million funding Yesterday, Dec. 20, 2024, stablecoin giant Tether announced its commitment to invest $775 million in YouTube rival Rumble. The first batch totals $250 million, while the entire transaction will be finalized in Q1, 2025, an official Tether statement says. 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 Once the transaction is completed, Chris Pavlovski, Rumble’s Chairman and CEO, will retain a controlling stake in his company. Following the announcement, Rumble’s stocks on NASDAQ soared by 40% on the premarket. Tether CEO Paolo Ardoino outlines that the investing in Rumble is yet again set to reaffirm Tether’s commitment to supporting decentralization in tech: Tether’s investment in Rumble reflects our shared values of decentralization, independence, transparency, and the fundamental right to free expression. In today’s world, legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative. This collaboration aligns with our long-standing commitment to empowering technologies that promote freedom and challenge centralized systems, as demonstrated through our recent collaborations and initiatives. As covered by U.Today previously, earlier this year, Tether made its first investment in crude oil market on Middle East worth over $50 million. Also, Tether supports new-gen Bitcoin (BTC) mining ventures. Rumble’s Pavlovski is excited about the promises of collaboration with Tether and stresses that “Tether is the…

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Filed under: News - @ December 21, 2024 4:28 pm