YouTube competitor Rumble (RUM) is in a deal for a $775 million strategic investment from stablecoin giant Tether.

Rumble will use $250 million of the money to support operations and the remainder to fund a tender offer for up to 70 million shares of its common stock at a price of $7.50, according to a Friday evening press release. That $7.50 is the same price per share Tether is paying for its stake.

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