Tether, the issuer of the largest stablecoin by market capitalization, has recently invested $775 million in Rumble, a censorship-free video-sharing platform. This partnership aims to support free speech and financial freedom.
Investment in Rumble
On December 20, Tether CEO Paolo Ardoino expressed the company's commitment to supporting technologies and businesses that promote resilience and independence. Ardoino highlighted Tether's deep belief in core values of free speech and financial freedom.
Rumble's Ambitions to Compete with YouTube
Rumble CEO Chris Pavlovski welcomed the investment, underscoring his determination to challenge YouTube's dominance. Pavlovski remarked on his ambition for global realignment of market share. The partnership aims to integrate advertising, cloud, and crypto payment solutions to enhance Rumble's competitive viability.
Rumble's Decision to Add Bitcoin to Its Balance Sheet
In addition to its partnership with Tether, Rumble decided to add Bitcoin to its corporate balance sheet. This decision followed a social media poll where 93.9% of 43,790 respondents supported the move. Rumble's board of directors approved the strategy to allocate up to $20 million from its excess cash reserves for Bitcoin acquisitions.
Tether's investment and Rumble's bold financial strategies indicate a growing alignment between decentralized technologies and platforms advocating free speech.