Stablecoin issuer Tether announced on Friday that it is investing $775 million in streaming video platform Rumble, a rival to YouTube that bills itself as an anti-censorship platform.

The company behind the USDT stablecoin called the deal a “definitive agreement,” and it would begin with a primary investment of $250 million in cash.

The deal, Tether said, will see the cryptocurrency company ultimately receive 103.3 million shares of Rumble common stock. Rumble CEO Chris Pavolski will retain a controlling stake in the streaming platform. At $7.50 per share of common stock, Tether’s $775 million investment in Rumble is expected to close in early 2025.

Following the announcement, Rumble’s RUM stock rose 40.75% in after-hours trading and is currently priced at $10.57, according to MarketWatch.

Launched in 2013 by technology entrepreneur Chris Pavlovksi, Rumble is a video streaming platform focused on free speech. It has become a popular alternative to YouTube for conservative and far-right content creators.

“Tether’s investment in

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Author: Jason Nelson