{"id":19779,"date":"2024-12-21T11:02:30","date_gmt":"2024-12-21T09:02:30","guid":{"rendered":"https:\/\/forklog.com\/en\/tether-commits-775-million-to-rival-youtube\/"},"modified":"2024-12-21T11:02:30","modified_gmt":"2024-12-21T09:02:30","slug":"tether-commits-775-million-to-rival-youtube","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tether-commits-775-million-to-rival-youtube\/","title":{"rendered":"Tether Commits $775 Million to Rival YouTube"},"content":{"rendered":"<p>Tether, the issuer of the popular stablecoin USDT, has announced a strategic investment of $775 million in the Canadian video hosting and cloud storage platform Rumble, aiming to foster decentralized and community-owned media platforms.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Tether Announces $775 Million Strategic Investment in Rumble ( <a href=\"https:\/\/twitter.com\/rumblevideo?ref_src=twsrc%5Etfw\">@rumblevideo<\/a> ) to Boost Decentralized and Community-Owned Media Platforms<\/p>\n<p>Read more:<a href=\"https:\/\/t.co\/2lRvcd6LJW\">https:\/\/t.co\/2lRvcd6LJW<\/a><\/p>\n<p>\u2014 Tether (@Tether_to) <a href=\"https:\/\/twitter.com\/Tether_to\/status\/1870233927794786764?ref_src=twsrc%5Etfw\">December 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cThe investment includes an initial cash injection of $250 million, along with Tether&#8217;s support for a proposal to buy back up to 70 million Rumble shares at $7.50 per share, reinforcing the platform&#8217;s development plans. The total investment will amount to approximately $775 million or 103,333,333 common shares,\u201d according to the <a href=\"https:\/\/tether.io\/news\/tether-announces-775-million-strategic-investment-in-rumble-to-boost-decentralized-and-community-owned-media-platforms\/\">press release<\/a>.<\/cite><\/p><\/blockquote>\n<p>The deal is expected to close in the first quarter of 2025. Rumble&#8217;s CEO and Chairman, Chris Pavlovski, will retain a controlling stake.<\/p>\n<p>The company&#8217;s shares are traded on Nasdaq under the ticker RUM. Rumble is well-known for its collaboration with Trump Media &#038; Technology Group, including the development of the social network Truth Social.<\/p>\n<p>The site has gained popularity among Americans with conservative and far-right political views, often associated with the <a href=\"https:\/\/ru.wikipedia.org\/wiki\/Alt-tech\" title=\"alt-tech\">alt-tech<\/a> movement. The platform boasts around 67 million active users.<\/p>\n<p>Rumble&#8217;s revenue in the third quarter of 2024 reached $25.1 million, marking a 39% increase compared to the same period last year. However, the company&#8217;s net loss grew to $31.5 million from $29 million a year earlier.<\/p>\n<p>Following the announcement, the video hosting platform&#8217;s stock price surged by more than 50%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"636\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/rumble_-1024x636.png\" alt=\"rumble_\" class=\"wp-image-248371\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/rumble_-1024x636.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/rumble_-300x186.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/rumble_-768x477.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/rumble_.png 1218w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.marketwatch.com\/investing\/stock\/rum\">MarketWatch<\/a>.\u00a0<br \/><\/figcaption><\/figure>\n<p>In late November, as digital gold neared the $100,000 mark, Rumble&#8217;s board of directors <a href=\"https:\/\/corp.rumble.com\/blog\/rumble-announces-bitcoin-treasury-strategy\/\">approved<\/a> the creation of a Bitcoin reserve, mirroring MicroStrategy&#8217;s strategy. The initial investment was $20 million.<\/p>\n<h2 class=\"wp-block-heading\">$10 Billion Net Profit<\/h2>\n<p>In an interview with Bloomberg, Tether&#8217;s head Paolo Ardoino <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-21\/tether-sees-10-billion-in-net-profits-for-2024\">revealed<\/a> that the company expects to end the year with a net profit exceeding $10 billion. He stated that more than half of this amount has already been invested in various promising areas.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cNext year, we plan to allocate at least half of the profits to investments,\u201d noted Ardoino, emphasizing that \u201cthis is just the beginning.\u201d<\/cite><\/p><\/blockquote>\n<p>Specifically, in the first quarter of next year, Tether has planned the launch of an AI platform that \u201cwill allow people to interact with artificial intelligence via mobile phones.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Just got the draft of the site for Tether&#8217;s AI platform.<br \/>Coming soon, targeting end Q1 2025.<\/p>\n<p>??? (goosebumps)<\/p>\n<p>\u2014 Paolo Ardoino ?? (@paoloardoino) <a href=\"https:\/\/twitter.com\/paoloardoino\/status\/1870149645776949674?ref_src=twsrc%5Etfw\">December 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Ardoino, the company will focus on investments in the United States, hoping that the regulatory environment for the crypto industry will become more favorable and predictable under Donald Trump&#8217;s presidency.<\/p>\n<p>Tether Investments is also channeling funds into Bitcoin mining, renewable energy, telecommunications, and education. Additionally, the company is actively financing commodity trading.<\/p>\n<p>There are over 100 million USDT holders worldwide.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether, the issuer of the popular stablecoin USDT, has announced a strategic investment of $775 million in the Canadian video hosting and cloud storage platform Rumble, aiming to foster decentralized and community-owned media platforms.<\/p>\n","protected":false},"author":1,"featured_media":19778,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[52,1245],"class_list":["post-19779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-investments","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=19779"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/19778"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=19779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=19779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=19779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}