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World Giant Tether Announces $775 Million Investment: Here's the Purchase Price and Date! - Coin Bulletin
Tether aims to support the company's growth goals with its strategic investment of $775 million in the Rumble platform.
Tether, one of the world's largest stablecoin issuers, announced that it will make a strategic investment of $775 million in the video platform Rumble.
This investment includes a cash contribution of $250 million and a commitment to support Rumble's share buyback offer. Under the offer, Rumble plans to buy back up to 70 million shares at a price of $7.50 per share.
The transaction, aimed at supporting Rumble's growth goals, is expected to be completed in the first quarter of 2025. Rumble CEO Chris Pavlovski will continue to retain control of the company after the transaction.
Tether's move is considered not only as a milestone in the stablecoin ecosystem, but also in the wider adoption of blockchain-based technologies.