Tether, the company behind the USDT stablecoin, has gained attention for investing $775 million in Rumble, a video-sharing platform that emphasizes Bitcoin and cloud services.
This plan, shared on December 20, involves a cash investment of $250 million and the option to buy up to 70 million shares at $7.50 each. Even with this investment, Rumble’s CEO, Chris Pavlovski, still controls the company.
Tether’s CEO, Paolo Ardoino, pointed out that this investment matches the shared values of decentralization, transparency, and freedom for both companies. He highlighted Tether’s dedication to backing technologies that encourage free speech and financial independence.
Pavlovski sees this financial support as a way to compete with YouTube’s strong position in the video-sharing market, which has about 2.5 billion monthly active users.
Tether has also made a lot of money this year, with profits over $10 billion. The company has expanded its investments into areas like agriculture, Bitcoin mining, artificial intelligence, and education.
Tether has put more than half of its profits back into the business to strengthen its place in the stablecoin market, including investments in European companies like StablR and Quantoz.
Ardoino shared plans to use more profits for artificial intelligence, with an AI platform expected to launch in early 2025. This plan is to grow Tether’s technology and find new chances in developing markets. Tether’s investments show its goal to change the financial world while supporting values like freedom and independence.
