Rumble Inc. (NASDAQ:RUM) saw its shares skyrocket over 97% intra-day today after securing a $775 million investment from Tether, the company behind the widely used USDT stablecoin. The partnership signals a deepening connection between the cryptocurrency sector and platforms championing free speech, with significant implications for Rumble’s growth trajectory.
The investment bolsters Rumble’s financial foundation, with $250 million specifically allocated to accelerating its growth initiatives. These include enhancing its video-sharing platform and expanding its cloud infrastructure, positioning the company to compete more aggressively in the digital content and services space.
As part of the deal, Tether’s investment includes a self-tender offer, enabling Rumble stockholders to sell up to 70 million shares of Class A Common Stock at $7.50 per share, the same valuation applied to Tether’s stake. This creates a unique liquidity opportunity for existing investors, marking a pivotal moment in the company’s financial strategy.
The collaboration aligns with shared values between Rumble and the cryptocurrency community, including a commitment to decentralization, transparency, and the protection of free expression. The partnership underscores a broader movement to challenge centralized systems and promote open digital ecosystems.
Rumble’s CEO highlighted the transformative potential of the investment, describing it as a launchpad for the company’s next phase of expansion.