Tether Invests $775 Million in Rumble, a Video-Sharing Platform Positioning Itself as a YouTube Competitor

Tether CEO Paolo Ardonio highlighted the investment as part of the company’s broader mission to support innovative technologies and businesses that encourage independence and resilience.

Cryptocurrency company Tether has announced a $775 million investment in Rumble, a video-sharing platform that has positioned itself as a competitor to mainstream services like YouTube.

The investment, which was announced on Monday, will be used to further Rumble's technological capabilities and strategic partnerships. Tether, which is the largest company in the digital asset sector, highlighted the investment as part of its broader mission to support innovative technologies and businesses that encourage independence and resilience.

“Tether deeply believes in the fundamental values of freedom of speech and financial freedom,” Tether CEO Paolo Ardonio said in a December 20th post on X.

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

In addition to its role as a video-sharing platform, Rumble also offers advertising, cloud solutions, and Bitcoin and cryptocurrency payment systems. Ardonio's statement also hinted at potential collaborations in these areas.

“Beyond our initial shareholder stake, Tether intends to drive towards a meaningful advertising, cloud, and crypto payment solutions relationship with Rumble,” he said.

BREAKING NEWS: Rumble Announces $775 Million Strategic Investment from Tether"We are excited to announce a $775 million strategic investment in Rumble, a video-sharing platform that has positioned itself as a competitor to mainstream services like YouTube,” said Tether CTO @paoloardoino.

The announcement comes amid a period of rapid growth for Rumble, which went public in September 2021. The platform, which hosts a variety of content including news, entertainment, and user-generated videos, has seen increasing popularity among users who are dissatisfied with the policies and practices of other major video-sharing services.

Following the news of Tether's investment, Rumble's stock price (RUM) saw a significant increase in after-hours trading, surging 51.60% to reach $10.90.

Meanwhile, Rumble also announced its intention to integrate Bitcoin into its financial strategy. On November 25th, the company's board approved an initiative to allocate up to $20 million of excess cash reserves to Bitcoin.

This move comes after a poll conducted by Rumble CEO Chris Pavlovski on November 19th, where 93.9% of over 43,000 respondents expressed support for the company to add Bitcoin to its balance sheet.

Lets put this in a poll format...Should Rumble add Bitcoin to its balance sheet?Finally, Rumble CEO Chris Pavlovski highlighted the platform's competitive ambitions, stating "YouTube, lookout. I'm coming for your monopolistic market share, globally."

In a post on X, Barstool Sports founder Dave Portnoy acknowledged Rumble and its CEO, and announced Pavlovski's upcoming appearance on his podcast to discuss Rumble's plans and recent developments.

Congrats to @rumblevideo @chrispavlovski will be on #ddtg to discuss $rum https://t.co/tDmaRqahaP

Tether's investment in Rumble aligns with the company's commitment to fostering innovation and financial freedom, while highlighting Rumble's efforts to enhance its technological capabilities and strategic partnerships.