Sunil Kumar
@sunil12349
Tether Invests $775 Million in Rumble Following YouTube Rival's Bitcoin Push Stablecoin issuer Tether has committed $775 million to rising streaming video platform Rumble, which has adopted a Bitcoin reserve strategy. Jason Nelson By Jason Nelson Dec 21, 2024 3 min read Tether is the company behind the USDT stablecoin. Image: Shutterstock Tether is the company behind the USDT stablecoin. Image: Shutterstock 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 …
0 reply
0 recast
1 reaction