Tether’s $775 Million Investment in Rumble
Tether, the leading force behind the world’s most prominent stablecoin, USDT, is taking significant strides in diversifying its business portfolio. Among its strategic moves is a substantial investment of $775 million in Rumble, a platform positioning itself as a formidable alternative to YouTube.
In this landmark deal, Tether plans to acquire 103.3 million shares of Rumble and allocate $250 million towards expanding Rumble’s global reach. This investment underscores Tether’s commitment to fostering “freedom tech,” a term embraced by CEO Paolo Ardoino to describe the support of decentralized platforms that champion open communication and cryptocurrency.
Rumble itself is making waves in the cryptocurrency world. Recently, the platform announced its intentions to invest $20 million of its cash reserves into Bitcoin, reflecting its growing interest in blockchain technology. This move aligns with Tether’s vision of supporting platforms that embrace the future of digital finance.
Tether’s Plan to Enter the AI Sector
Looking towards the future, Tether is not just stopping at stablecoins and video platforms. The company is preparing to make a significant entry into the artificial intelligence industry by 2025. CEO Paolo Ardoino recently revealed plans for launching Tether’s AI platform in the first quarter of 2025. This initiative marks a notable shift for Tether, as it expands its horizons beyond its traditional focus.
The groundwork for this venture was laid last year when Tether formed a partnership with Northern Data, a company renowned for its expertise in cloud computing and AI technologies. This collaboration is set to provide a solid foundation for Tether’s foray into the AI sphere, potentially positioning it as a frontrunner in the convergence of finance and technology.
Tether (USDT) Revenue and Growth
Amidst these exciting developments, Tether’s USDT stablecoin remains a strong financial pillar for the company. The stablecoin has propelled Tether to achieve record-breaking profits, amounting to $2.5 billion in the third quarter of 2024 alone. This impressive performance has brought the company’s year-to-date earnings to a remarkable $7.7 billion.
Tether’s asset base has also seen substantial growth, now totaling $139.4 billion. This growth is bolstered by strategic investments across various sectors, including renewable energy, Bitcoin mining, telecommunications, education, and artificial intelligence. Such diversification not only enhances Tether’s financial standing but also underscores its commitment to innovation and sustainability.
