Rumble Stock Jumps After Stablecoin Giant Tether Buys 1 Million Shares

Core Insights - Rumble's shares increased by over 14% following Tether's acquisition of 1 million shares valued at approximately $5.75 million [1] - Tether now holds nearly 104.4 million shares in Rumble, valued around $680 million, with RUM trading at $6.51 [2] - Despite recent gains, Rumble's shares have experienced a nearly 50% loss year-to-date [3] Investment Activities - Tether acquired an additional 1,063,670 shares of Rumble last week at prices between $5.38 and $5.46 [1] - Tether's initial investment last year was $775 million for over 103 million shares at $7.50 each, with RUM spiking to $10.57 at that time [2] - Tether agreed to back Rumble's acquisition of Northern Data and plans to purchase $150 million worth of GPUs from Rumble [4] Strategic Partnerships - Rumble and Tether are collaborating to introduce a crypto tipping feature for creators, allowing tips in Bitcoin and USDT [4] - Rumble has established a Bitcoin reserve, holding 210.82 BTC valued at around $18.5 million as of the end of Q3 [5] - The partnership aims to enhance content creator tools and increase the usage of Tether's crypto wallet through a $100 million advertising investment [4]