2024

Rumble

<ul class="wp-block-list"> 
 <li>Tether’s 2024 profits surpass $10 billion, driven by USDT demand and investments.</li> 
 <li>Rumble shares soared 43.7% after Tether’s investment announcement.</li> 
</ul> 
Tether Holdings Ltd., the world’s largest stablecoin issuer, is wrapping up 2024 with an impressive milestone: over $10 billion in net profits. CEO Paolo Ardoino shared the news in a recent interview, highlighting the growing demand for USDT. 
As<a href="https://thenewscrypto.com/social-media-buzz-on-buy-the-dip-surges-to-8-month-high-as-bitcoin-dips/" target="_blank" rel="noreferrer noopener"> Bitcoin</a> and other cryptocurrencies hit record highs, USDT’s <a href="https://coinmarketcap.com/currencies/tether/" target="_blank" rel="noreferrer noopener nofollow">market</a> capitalization grew by $50 billion this year, reaching $140 billion, according to CoinMarketCap. Much of Tether’s profits come from investing its reserves in US Treasuries, gold, and other securities. 
Ardoino revealed that over half of this year’s profits were reinvested, with a notable $775 million going into the video-sharing platform Rumble. <a href="https://x.com/Tether_to/status/1870233927794786764?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1870233927794786764%7Ctwgr%5E58d3f983304e41821978ec9d98916aa615692267%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F298421%2Ftether-invests-775-million-rumble-bitcoin" target="_blank" rel="noreferrer noopener nofollow">Announced</a> on Friday, the investment includes $250 million in cash and support for Rumble’s tender offer to buy up to 70 million shares at $7.50 each. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “Next year, we’re planning to allocate at least half of our profits to new investments,” Ardoino said.&nbsp; 
</blockquote> 
He also mentioned plans to launch Tether’s AI platform in early 2025. It will let users interact with AI directly through their phones. The company has been expanding its investments into areas like Bitcoin mining, biotechnology, and other innovative sectors. 
<h3 class="wp-block-heading" id="h-is-tether-s-rumble-deal-a-crypto-play">Is Tether’s Rumble Deal a Crypto Play?</h3> 
Tether’s investment strategy also aligns with shifting regulatory expectations in the U.S. As President-elect Donald <a href="https://thenewscrypto.com/trumps-world-liberty-financial-continues-to-purchase-eth-amid-market-dip/" target="_blank" rel="noreferrer noopener">Trump’s</a> administration is expected to take a more favorable stance toward crypto. Howard Lutnick, Trump’s pick for Commerce Secretary, leads Cantor Fitzgerald, a company that holds a stake in Tether and manages its reserves.&nbsp; 
Rumble, based in Toronto, <a href="https://x.com/rumblevideo/status/1870226952117801202?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1870226952117801202%7Ctwgr%5E58d3f983304e41821978ec9d98916aa615692267%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F298421%2Ftether-invests-775-million-rumble-bitcoin" target="_blank" rel="noreferrer noopener nofollow">confirmed</a> Tether’s $775 million investment. It caused its shares to jump 43.7% in after-hours trading, closing at $10.57. Rumble’s CEO Chris Pavlovski will retain his controlling stake, while Tether will hold a minority position without any board seats.&nbsp; 
Pavlovski expressed excitement about Tether’s involvement, calling the company a “perfect partner” to help Rumble scale. As part of the deal, Tether is purchasing 103.3 million shares of Rumble stock, with the transaction expected to close in early 2025. 
The platform plans to use part of the funds to buy back up to 70 million shares. Rumble also announced plans to add Bitcoin to its reserves, aiming to purchase $20 million worth.&nbsp;Pavlovski menitoned Bitcoin’s potential as an inflation hedge. 
Highlighted Crypto News Today <a href="https://thenewscrypto.com/dwf-ventures-wraps-up-a-whirlwind-year-in-crypto/">DWF Ventures Wraps Up a Whirlwind Year in Crypto</a>

Tether Invests $775M in Rumble After Surpassing $10B in Profits

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