Tether has announced a $775 million strategic investment with video sharing platform Rumble just weeks after the platform announced it would be adding Bitcoin to its balance sheet.
Tether, the issuer of the world’s largest stablecoin by market cap, has invested $775 million into Rumble, an alternative platform to YouTube known for not censoring content. “Tether deeply believes in the fundamental values of freedom of speech and financial freedom,” Tether CEO Paolo Ardonio said in a Dec. 20 X post.
“Our strategic investment in Rumble greatly underscores Tether’s focus in supporting technology and companies that empower humans, delivering independence and resilience to our society,” Ardonio said.
Ardonio said he was optimistic about what Rumble CEO Chris Pavlovski and his team have built and looks forward to collaborating on a “shared vision.” Tether and Rumble plan to collaborate on an advertising, cloud, and crypto payments solution relationship.
“YouTube, lookout. I’m coming for your monopolistic market share globally.”
The video-sharing platform said its board of directors approved the strategy, allocating a portion of the company’s excess cash reserves to Bitcoin at the company’s discretion and up to $20 million total.
