Tether Invests Big in Rumble as Profits Top $10 Billion This Year
Tether, the world’s leading Stablecoin Market, has strategically invested $775 million in Rumble, an emerging video sharing platform that positions itself as a decentralized alternative to YouTube.
The major investment comes as Tether’s profits soar, with profits soaring to more than $10 billion this year.
December 20, Tether Issuer announces US$775 million strategic investment in Rumble Bitcoin holding video sharing platform and cloud service providers.
according to statementthe offer includes an initial cash injection of $250 million into Rumble and an offer to acquire up to 70 million shares at $7.50 per share, for a cumulative value of $775 million. Despite this, Rumble Chairman and CEO Chris Pavlovski retains a controlling stake in the company.
Tether CEO Paolo Ardoino said the investment reflects the two companies’ commitment to decentralization, transparency and freedom. He highlighted Rumble’s role as a reliable platform, challenging the status quo of mainstream media, which has been grappling with declining trust.
“Tether firmly believes in free speech and financial freedom. Our strategic investment in Rumble greatly highlights Tether’s focus on supporting technologies and companies that empower humans and provide independence and resiliency for our society,” Ardoino commented.
Pavlovsky, meanwhile, sees financial support as a tool to compete directly with YouTube. In fact, YouTube is the world’s dominant video sharing platform, with approximately 2.5 billion monthly active users as of March 2024.
“YouTube, watch out. I’m here for your monopoly of global market share.” Pavlovsky point out.
Tether, mainly known for its USDT Stablecoin Market value is approximately US$140 billion, The portfolio was expanded this year. Company owned Involved in agriculture and other fieldsBitcoin mining, artificial intelligence and education.
In a recent interview with Bloomberg, Ardoino said Tether’s profits will exceed $10 billion this year. He also mentioned that the company has reinvested more than half of its profits to strengthen its position in the stablecoin market, including most recently Investments in European stablecoin companies StablR and Quantoz.
Looking ahead, Ardoino announced plans to invest additional profits in AI. On social media platform X, the CEO said the company will launch an artificial intelligence platform in early 2025. This move is intended to expand Tether’s technology footprint and open up new growth opportunities in emerging markets.
“Just received a draft website for the Tether AI platform. Launch is imminent, targeting the end of Q1 2025,” Ardoino explain.
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