Tether, the issuer of the largest stablecoin USDT, announced its investment in Rumble, a leading video sharing platform and cloud services provider. Of the $775 million invested, $250 million will immediately support Rumble's growth initiatives.

Tether is backing Rumble with $775 million in funding

Yesterday, December 20, 2024, stablecoin giant Tether announced its commitment to invest $775 million in YouTube competitor Rumble. The total first tranche is $250 million, while the entire transaction will be completed in the first quarter of 2025, an official Tether statement said.

Once the deal is completed, Chris Pavlovsky, Chairman and CEO of Rumble, will retain a controlling stake in his company. Following this announcement, Rumble shares on the NASDAQ rose 40% in the premarket.

Paolo Ardoino, CEO of Tether, explains that the investment in Rumble aims to once again reaffirm Tether's commitment to supporting decentralization in technology:

Tether's investment in Rumble reflects our shared values ​​of decentralization, independence, transparency, and the fundamental right to freedom of expression. In today's world, legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a trusted, uncensored alternative. This collaboration is consistent with our long-standing commitment to enabling technologies that advance freedom and challenge centralized systems, as demonstrated through our recent collaborations and initiatives.

like Covered By U.Today Earlier this year, Tether made its first investment in the Middle East crude oil market worth over $50 million. Tether also supports new generation Bitcoin (BTC) mining projects.

Rumble's Pavlovsky is excited about the promise of collaboration with Tether and asserts that "Tether is the perfect partner who can put a rocket pack on Rumble's back."

Tether reports $10 billion in revenue, teases launch of AI platform

With the new funding, Rumble will challenge YouTube's dominance in the segment of video hosting platforms with decentralized alternatives.

In 2024, Tether is set to post a record net profit of $10 billion, CEO Arduino said. He said In an exclusive interview with Bloomberg. Of this huge amount, Tether is willing to redistribute 50% among additional investment initiatives.

Also, in the first quarter of 2025, Tether plans to launch its own AI platform, allowing smartphone users to benefit from AI developments.

In the past 12 months, Tether's USDT stablecoin, a core product of the company, has increased its market capitalization by more than 50% from $93 billion to $141 billion in equivalents.