Tether Invests in Rumble: A Step Toward Challenging YouTube's Reign?


Tether continues its asset diversification strategy. This time, it has invested $775 million in the renowned online video platform Rumble (RUM). The acquisition involves purchasing 103.3 million shares at 7.50 per share. The deal solves the problem of liquidity for Rumble, which prepares for expansion. 


Despite the deal, Chris Pavlovski, Rumble CEO, retains his majority stake. His status also remains unchanged. Besides, Tether will not have the authority to appoint board members for Rumble. Rumble shares soared by 60% following the announcement. Chris Pavlovski expressed enthusiasm about the partnership and described Tether as "the perfect partner that can put a rocket pack on the back of Rumble as we prepare for our next phase of growth."

What’s in it for Tether? Paolo Ardoino, Tether CEO, confirmed that the investment is more than just financial. The company plans to establish "a meaningful advertising, cloud, and crypto payment solutions relationship with Rumble." 


Will it be a profitable move for a cryptocurrency giant? Time will tell. Both sides can benefit from it, with their significant potential and attempt to grow. Tether’s ventures into agriculture, Bitcoin mining, artificial intelligence, and digital education are parts of a broader diversification strategy. Who knows? This collaboration might just be the push Rumble needs to challenge YouTube's dominance.


#Tether #Rumble #Investment

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