Longboat Key-based Rumble receives $775M strategic investment

Video-sharing and cloud services platform Rumble, which is based on Longboat Key and aims to provide access to uncensored content, has entered into an agreement with a cryptocurrency company for a strategic investment of $775 million.

The crypto firm, Tether, has agreed to purchase 103.33 million shares of Rumble's Class A Common Stock at $7.50 per share, according to a statement. Tether reports it did $10.29 trillion in transaction volume in 2023, with many of its 350 million users in developing countries.

“Many people may not realize the incredibly strong connection between the cryptocurrency and free speech communities, which is rooted in a passion for freedom, transparency and decentralization,” Rumble CEO Chris Pavlovski says in a statement.