The video platform Rumble has received a huge new investment as it seeks to compete against monopolistic and anti-speech tech companies like Google-owned YouTube. As a free speech-oriented company, Rumble provides an approach that sets itself apart from its competitors.
Tether, the largest stablecoin issuer, has provided Rumble a $775 million investment, according to Reclaim the Net. Both companies put an emphasis on decentralization, but Rumble has also slammed the censorship complex enforced by Big Tech companies.
Of the investment, $250 million will be allocated to bolster Rumble’s finances and to accelerate its initiatives for growth, per Reclaim the Net. Rumble CEO Chris Pavlovski specifically emphasized free speech in his statement, however. “I could not be more excited about this collaboration with Tether for a number of reasons. First, many people may not realize the incredibly strong connection between cryptocurrency and free speech communities, which is rooted in a passion for freedom, transparency, and decentralization,” he said.
Pavlovski continued, “Second, the immediate commitment of adding $250 million in cash to our balance sheet not only confirms the level of support and commitment to a collaboration between our companies, it also fuels our growth initiatives. And, third, this transaction provides an immediate liquidity event for all of our stockholders who elect to participate in the self tender offer.”
The Rumble CEO enthusiastically ended, “I truly believe Tether is the perfect partner that can put a rocket pack on the back of Rumble as we prepare for our next phase of growth.” The video platform has advertised itself as a haven from censorship. Tether CEO Paolo Ardoino also cited the right to “free expression.”
MRC Vice President for Free Speech Dan Schneider interviewed Pavlovski earlier this year about Rumble’s mission and plans.
MRC VP @Schneider_DC and Rumble CEO @chrispavlovski on Rumble's differences over YouTube pic.twitter.com/jHO9hCXbQY
— Free Speech America (@FreeSpeechAmer) July 17, 2024
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