In an eye-catching development, Tether has announced a hefty investment of $775 million in Rumble, a video-sharing service that champions content liberty. This move comes shortly after Rumble declared plans to enhance its financial strategy by adding Bitcoin to its asset portfolio.
Tether’s Commitment to Free Expression
As the reigning leader in the stablecoin market, Tether’s injection of funds underscores its dedication to the ideals of free expression and financial sovereignty. Paolo Ardonio, the company’s CEO, took to X to share Tether’s resolve in backing technologies and enterprises that empower individuals and fortify societies against adversity.
Collaboration and Innovation Ahead
Ardonio expressed his eagerness to collaborate with Rumble’s CEO, Chris Pavlovski, on shared goals that enhance both companies’ missions. Together, Tether and Rumble are expected to innovate in areas such as advertising, cloud technology, and cryptocurrency transactions.
Market Impact and Future Plans
Pavlovski, reflecting on the company’s future, indicated a fierce competitive drive to take on YouTube’s dominance in the video-sharing realm. He indicated a strong desire to shake up the status quo and usher in a transformative era for Rumble.
After Tether’s investment announcement, Rumble’s shares surged impressively, skyrocketing by 51.60% in after-hours trading to hit $10.90 per share.
Earlier, on November 25, Cointelegraph reported that Rumble decided to add Bitcoin to its balance sheet. Following a board meeting, the company opted to divert a portion of its cash reserves towards Bitcoin, setting a maximum investment of $20 million.
Source: Cointelegraph
