Tether, stablecoin issuer, has announced its entry into a definitive contract for a planned investment in the popular video-sharing and cloud services platform Rumble. Tether is investing up to $775M in Rumble to bolster community-owned decentralized media forums. The platform announced this investment on its official X account.
Tether Commits $775M to Boost Rumble’s Decentralized Media Initiatives
Tether pointed out that its strategic allocation of $775M for Rumble to advance the growth of the decentralized media platforms led by community. Moreover, the investment takes into account an initial commitment of up to $250M in terms of cash. In this respect, Tether is also backing the tender offer of Rumble for nearly 70M shares at a per-share price of $7.50. This reinforces the future growth endeavors of the platform.
The cumulative anticipated Tether investment will account for $775M (up to 103,333,333 common stock shares). After the transfer completion, Chris Pavlovski (the CEO and Chairman of Rumble) will retail a governing stake in the platform.
Paolo Ardoino, who is the chief executive officer of Tether, commented on this investment. He asserted that Rumble shares their values of transparency, decentralization, independence and the essential right to free expression. He added that the trust in legacy media has diminished, offering an opportunity for Rumble and other such platforms. Hence, Rumble reportedly offers an uncensored and credible alternative.
The Collaboration Highlights Aims to Advance Advertising, Crypto Payment, and Cloud Solutions
The collaboration with Rumble reflects Tether’s long-standing pledge to fortify technologies that increase freedom and outcompete centralized systems. Rumble pays a significant attention to promoting innovation and open communication. This makes it an ideal partner for Tether, contributing to its continuous development of the infrastructure for a relatively inclusive and decentralized future. Additionally, beyond Tether’s initial shareholder stake, it seeks to push toward a notable partnership with Rumble for advertising, crypto payment, and cloud solutions.
Rumble’s CEO and Chairman “Chris Pavlovski” expressed excitement about this partnership. He emphasized the resilient connection between the free speech and crypto communities. The respective relationship emerges from the passion for decentralization, transparency, and freedom. Moreover, the instant commitment of Tether to invest $250M in Rumble’s balance sheet reaffirms the commitment and support level. Apart from that, it boosts Rumble’s growth initiatives.
