Video streaming service Rumble picked up a major investment from crypto firm Tether, the company announced on Friday. The deal sees Tether purchasing a $775 million USD stake in the company after buying 70 million shares in the company at $7.50 USD per share.

“I truly believe Tether is the perfect partner that can put a rocket pack on the back of Rumble as we prepare for our next phase of growth,” said Rumble CEO Chris Pavlovski, as reported by Coindesk.

“Legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative,” added Tether CEO Paolo Ardoino, also courtesy of Coindesk. “Beyond our initial shareholder stake, Tether intends to drive towards a meaningful advertising, cloud, and crypto payment solutions relationship with Rumble.”

Tether is a powerful player in the cryptocurrency industry, with the company's USDT stablecoin among the largest of the growing market.

Rumble said it anticipates using $250 million to support growth initiatives, with the video streaming firm's stock sharply rising in the aftermath of the deal.

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