Tether’s Big Bet: Rumble Stock Soars After Major Share Buy

Tether bought over 1 million Rumble shares for $5.7 million, raising its stake to more than 104 million shares. Rumble's stock surged up to 14% after the news, despite a 50% drop year-to-date.

Tether has significantly increased its stake in video streaming platform Rumble by acquiring over 1 million additional shares for approximately $5.7 million, bringing its total holdings to more than 104 million shares valued at around $680 million. This move triggered a surge in Rumble's stock price, which jumped between 13% and 14% following the announcement. The purchase was disclosed in an SEC filing and executed in several transactions at prices ranging from $5.38 to $5.46 per share. Despite this recent rally, Rumble's stock remains down nearly 50% year-to-date. The partnership between Tether and Rumble has deepened, with joint ventures in high-performance computing, crypto tipping features for creators, and infrastructure upgrades. Tether is also supporting Rumble's acquisition of Northern Data and investing in AI infrastructure, positioning itself as a key strategic partner as Rumble expands its digital infrastructure and crypto capabilities.