Rumble Secures $775 Million Strategic Investment from Tether

Rumble, a video-sharing platform and cloud services provider, announced on Friday that it has secured a strategic investment of $775 million from Tether, a blockchain-enabled platform. The news caused Rumble’s shares to surge by 43.7% in after-hours trading.

Following the deal, Chris Pavlovski, Rumble’s chairman and CEO, will maintain control of the company, with Tether taking a minority stake in Rumble’s common stock. However, Tether will not have the right to appoint any members to Rumble’s board.

Rumble also revealed plans to use part of the investment to launch a self-tender offer for up to 70 million of its common shares. The transaction and tender offer are expected to be completed by the first quarter of 2025.

The move follows a broader surge in cryptocurrency enthusiasm, partly driven by political developments, including former President Donald Trump’s pro-cryptocurrency stance and his proposal for a U.S. bitcoin strategic reserve.