Rumble Can Move To El Salvador Alongside Tether
El Salvador’s President Nayib Bukele encouraged Rumble CEO Chris Pavolvski to move the company to the country. Tether announced its move a day ago.
The government of El Salvador, which recently softened its pro-Bitcoin extremist laws, is now looking to forge more strategic partnerships with leading cryptocurrency companies.
Rumble considering El Salvador
El Salvador is one of them The world’s most crypto-friendly governmentand wants the industry to set up offices there. Just yesterday, Tether announces relocation After obtaining a new license. Rumble CEO Chris Pavlovsky achieve Going to work to discuss El Salvador’s move, Bukele dished out a simple suggestion supply Response:
“Your headquarters should be moved here, too,” Bukele said.
It does make sense for Rumble to follow Tether to El Salvador a few years later. On the one hand, Tether is a major investor in the platform; gave it $775 million last month.
The two companies are already so entangled that such a move might make sense. Pavlovsky also retweeted several enthusiastic posts about Tether’s move.
Additionally, El Salvador may be attractive to Rumble due to its close relationship with Bitcoin. In November last year, the company started Allocate its cash reserves to Bitcoinwith an initial investment of US$20 million. El Salvador has been a major purchaser of Bitcoin and has advocated for Bitcoinization globally since Bukele made Bitcoin legal tender.
El Salvador has been trying to maintain its reputation as a global cryptocurrency hub through moves such as the Tether deal and its proposed acquisition of Rumble. a month ago it Bitcoin law finally changed That followed a relatively sweet offer from the International Monetary Fund. This goes against its provocative maximalist stance.
The country has been under years of scrutiny by the International Monetary Fund because of its policies requiring all businesses to accept Bitcoin payments. After years of pressure, U.N. agencies finally convinced Bukele to relax his policy.
“The International Monetary Fund admitted that a key reason it refused to provide funds to El Salvador was that it did not like Bitcoin and that the government had included Bitcoin in the treasury,” Sam Callahan previously said release on X (formerly Twitter).
Since the deal, El Salvador has taken a number of public-facing steps to maintain its image as a defender of cryptocurrencies. For example, Blakely Laughing at buying discounted Bitcoin A few days ago, the U.S. government announced a $6.7 billion sale. El Salvador could also benefit greatly from Rumble after attracting business from Tether.
However, a major deal like this requires more than a tongue-in-cheek offer on social media. A business connection with Tether may bring Rumble closer to El Salvador, but a full relocation is a more complicated process.
Regardless, the country is keen to attract capital in the international cryptocurrency space, and Bukele is actively seeking partners.
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