Strategic Investment in Rumble
Tether, the world's largest stablecoin issuer, has made a significant $775 million “strategic investment” in Rumble, a video streaming platform known for its conservative audience. The move reflects Tether’s growing interest in diversifying its investment portfolio and expanding into new industries, especially those intersecting with free speech and decentralization.The Impact on Rumble’s Growth
This investment comes shortly after Rumble announced plans to allocate up to $20 million of its excess cash reserves into Bitcoin. Following the news of Tether’s involvement, Rumble's stock saw a massive surge, increasing by 44.6% in aftermarket trading. This jump highlights investor optimism and growing support for Rumble's business model, which now includes enhanced financial backing from the world of crypto.Tether's Expanding Reach
Tether’s move into sectors like artificial intelligence, Bitcoin mining, and decentralized messaging reflects the company’s strategy under CEO Paolo Ardiono. The platform's cloud services division is already helping to develop Keet, a peer-to-peer chat and video conferencing app. Tether’s interest in Rumble further emphasizes its commitment to the free speech movement, with both companies aligned on the principles of decentralization and transparency.
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