Tether has formed a strategic partnership by investing $775 million into the video-sharing platform Rumble. This collaboration is aimed at supporting fundamental values like freedom of speech and financial freedom.
Rumble Utilizes Funds for Growth
Out of the total investment, $250 million will be used by Rumble to support operational activities. The rest of the funds will be used to finance a self-tender offer for up to 70 million shares of the company at $7.50 per share.
Tether's Role in Rumble's Development
Tether CEO Paolo Ardoino stated that their firm believes in fundamental values of freedom of speech and financial freedom. Tether's investment will ensure a minority position in Rumble’s shares without the right to designate board members.
Key Prospects of the Partnership
Rumble CEO Chris Pavlovski believes that this partnership will lead the platform to a new phase of growth. The announcement led to a 51.6% increase in Rumble's share price to $10.90. The deal is expected to close in the first quarter of 2025.
The partnership between Tether and Rumble represents a significant step towards supporting freedom of speech and financial freedom while opening new opportunities for both companies.
