Tether, the issuer of the world’s largest stablecoin by market capitalization, has made their intentions of make investments outside of crypto, followed up by announcing the company has taken a large stake in Rumble, a alternative video platform to YouTube known for its freedom of speech.
In a X post, Tether CEO Paolo Ardoino explained how the company wanted to support the freedom of speech and financial freedom through their support for Rumble.
Ardoino emphasized the strategic importance of this partnership, stating, “Our investment in Rumble highlights Tether’s commitment to supporting technologies and companies that empower individuals, fostering independence and resilience in our society.”
Ardoino also expressed his optimism about Rumble’s future under the leadership of CEO Chris Pavlovski, highlighting the potential for collaboration on a shared vision. The two companies aim to develop joint initiatives in advertising, cloud services, and crypto payment solutions.
Rumble CEO Chris Pavlovski shared his excitement on X, underscoring the platform’s ambitions to challenge YouTube’s global dominance.
“YouTube, look out. I’m coming for your monopolistic market share globally.”
Following the announcement, Rumble’s stock (RUM) surged 51.60% in after-hours trading, reaching $10.90, according to Google Finance.
This investment comes on the heels of Rumble’s recent announcement to integrate Bitcoin into its balance sheet. On Nov. 25, Rumble confirmed plans to allocate up to $20 million of its excess cash reserves to Bitcoin, a move approved by its board of directors.
This followed a Nov. 19 poll on X, where 93.9% of 43,790 respondents supported the idea.
Tether’s investment in Rumble underscores its alignment with platforms that prioritize freedom and innovation. As Rumble continues to grow its presence in the video-sharing market, this partnership represents a significant step toward reshaping the digital content landscape while embracing crypto adoption.
Historically, Tether has primarily been seen as the issuer of USDT, a stablecoin pegged to the U.S dollar and used extensively in crypto trading and payments. However, this $775 million investment highlights shift in its corporate identity.
Tether is broadening its scope, participating in building and decentralized economies and solidifying its relevance in both the tech and financial sectors.
The move also raises questions about Tether's reserves. While Tether has faced scrutiny in the past regarding the transparency of its backing, these recent investments showcase a proactive approach to asset diversification. By allocating funds to Bitcoin and innovative platforms like Rumble, Tether is signalling its intent to stay at the forefront of the digital economy.
Tether's latest move also resonates with the broader trend among major crypto firms and investors looking to push the boundaries of blockchain utilities and adoption. From funding decentralized platforms to acquiring strategic crypto assets, the industry is collectively laying the groundwork for a Web3-driven future.
The intersection of Bitcoin, stablecoins, and decentralised platforms like Rumble reflects a growing belief in a more open, permissionless digital economy. Tether's investment might also inspire other blockchain companies to expand their portfolio beyond traditional crypto assets and into adjacent industries.
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