Tether, the stablecoin issuer, announced on Friday that it is investing $775 million On the video streaming platform Rumble, a competitor to YouTube that describes itself as an anti-censorship platform.

The company behind USDT Stablecoin described the deal as a “definitive agreement,” and it will start with an initial investment of $250 million in cash.

Tether said the deal will see the cryptocurrency company ultimately receive 103.3 million shares of Rumble common stock. Rumble CEO Chris Pavolski will retain a controlling stake in the streaming platform. At $7.50 per common share, Tether's $775 million investment in Rumble is expected to close in early 2025.

Following this announcement, RUM's stock rose 40.75% in after-hours trading and is currently priced at $10.57, according to Market monitoring.

Launched in 2013 by tech entrepreneur Chris Pavlovksy, Rumble is a video streaming platform focused on freedom of expression. It has become a popular alternative to YouTube for conservative and far-right content creators.

“Tether’s investment in Rumble reflects our shared values ​​of decentralization, independence, transparency and the fundamental right to freedom of expression,” Tether CEO Paolo Ardoino said in a statement. “In today’s world, legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a trusted, uncensored alternative.”

Tether and Rumble did not immediately respond to requests for comment Decryption.

“I truly believe Tether is the ideal partner who can put a rocketship on the back of Rumble as we prepare for our next phase of growth,” Chris Pavlovsky, Rumble's chairman and CEO, said in a statement.

In November, Rumble's board of directors approved Create a Bitcoin reserve As the price of BTC rose to $100,000. Rumble said the company plans to buy up to $20 million worth of bitcoin, joining other publicly traded companies, including Accurate strategy, Marathon Digital HoldingsAnd Tesla That added Bitcoin to their balance sheets.

“We believe the world is still in the early stages of Bitcoin adoption, which has recently accelerated with the election of a cryptocurrency-friendly US presidential administration and increased institutional adoption,” Pavlovsky said at the time. “Unlike any government-issued currency, Bitcoin is not subject to dilution by endless money printing, enabling it to be a valuable inflation hedge and an excellent addition to our treasury.”

Modified by Andrew Hayward