{"id":30917,"date":"2024-12-24T13:17:00","date_gmt":"2024-12-24T13:17:00","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=30917"},"modified":"2024-12-24T13:17:00","modified_gmt":"2024-12-24T13:17:00","slug":"rumble-secures-775-million-strategic-investment-from-tether-gives-up-shares","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=30917","title":{"rendered":"Rumble Secures $775 Million Strategic Investment From Tether, Gives Up Shares"},"content":{"rendered":"

Rumble, the high-growth video-sharing platform and independent cloud services provider, announced a $775 million investment from Tether on 20 December 2024.\u00a0<\/span><\/p>\n

This partnership aims to unites two decentralization leaders to accelerate innovation, empower free expression, and fuel financial inclusion, according to <\/span>Tether\u2019s press release.<\/span><\/a><\/p>\n

Commenting on the investment, Paolo Ardoino, CEO of Tether said, \u201cTether\u2019s investment in Rumble reflects our shared values of decentralization, independence, transparency, and the fundamental right to free expression.\u201d<\/span><\/p>\n

If you haven\u2019t heard of Rumble (RUM), the no-censorship video platform, now\u2019s the time to take notice. Tether recently took a significant stake, and the stock is climbing in after-hours trading. Let\u2019s just say, I\u2019m feeling good about loading up during last week\u2019s dip. Thanks to\u2026 pic.twitter.com\/LiCSnnoQPs<\/a><\/p>\n

\u2014 Reasoned Chaos (@ReasonedChaos) December 21, 2024<\/a><\/p>\n\n

Terms Of Agreement Between Rumble And Tether <\/h2>\n

Under the terms of the agreement, Tether will acquire 103,333,333 shares of Rumble\u2019s Class A Common Stock at $7.50 per share.\u00a0<\/span><\/p>\n

The investment will generate $775 million in gross proceeds for Rumble, of which $250 million will be allocated to strengthening the company\u2019s balance sheet and funding strategic initiatives.<\/span><\/p>\n

The remaining proceeds will finance a self-tender offer for up to 70 million shares of Rumble\u2019s Class A Common Stock, ensuring liquidity for interested shareholders at the same favorable price as Tether\u2019s investment.<\/span><\/p>\n

Chris Pavlovski, Rumble\u2019s Chairman and CEO, expressed his enthusiasm for the milestone collaboration. \u201cThis partnership with Tether represents a pivotal moment for Rumble,\u201d he said. \u201cIt underscores the deep alignment between the cryptocurrency and free-speech communities\u2014both of which share a passion for decentralization, transparency, and individual empowerment.\u201d<\/span><\/p>\n

\u201cThis investment not only validates Rumble\u2019s mission but also provides the fuel necessary to accelerate our next phase of growth,\u201d Pavlovski added. \u201cWith this capital injection, Pavlovski will retain his super-majority voting control, safeguarding Rumble\u2019s independent vision and leadership.\u201d<\/span><\/p>\n

Explore:\u00a0Tether CEO Paolo Ardoino Hopes For Net Positive From US Elections, Says Bitcoin Strategic Reserve Is A Great Idea: 99Bitcoins Exclusive\u00a0<\/a><\/strong><\/p>\n

Ardoino: Legacy Media Has Increasingly Eroded Trust<\/h2>\n

\u201cIn today\u2019s world, legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative,\u201d said Ardoino. \u201cThis collaboration aligns with our long-standing commitment to empowering technologies that promote freedom and challenge centralized systems, as demonstrated through our recent collaborations and initiatives.\u201d<\/span><\/p>\n

According to Tether, platforms like Rumble are integral to countering the erosion of trust in legacy media. <\/span><\/p>\n

\u201cBy investing in Rumble, we not only align with a company that shares our values but also create new possibilities for innovation in advertising, cloud services, and cryptocurrency payment solutions,\u201d said Tether.\u00a0<\/span><\/p>\n

Explore:\u00a0Tether \u201cAttracts Property Rights Under English Law,\u201d UK Court Rules\u00a0<\/a><\/strong><\/p>\n

\u00a0<\/p>\n

The post Rumble Secures $775 Million Strategic Investment From Tether, Gives Up Shares<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Rumble, the high-growth video-sharing platform and independent cloud services provider, announced a $775 million investment from Tether on 20 December 2024.\u00a0 This partnership aims to unites two decentralization leaders to accelerate innovation, empower free expression, and fuel financial inclusion, according to Tether\u2019s press release. Commenting on the investment, Paolo Ardoino, CEO of Tether said, \u201cTether\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30917","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30917"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30917"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30917\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}