Tether's move to buy a large stake in Rumble signals its ambitions to expand both its technological and political ambitions.

Video sharing platform and cloud services provider Rumble said on Friday it has entered into an agreement with Tether, a blockchain-enabled platform, to receive a strategic investment of $775 million.

Rumble said Friday it entered an agreement for a $775 million investment from the cryptocurrency company Tether. Tether agreed to purchase about 103.3 million shares of Rumble at $7.50, totaling $775 million.

Stablecoin issuer Tether has committed $775 million to rising streaming video platform Rumble, which has adopted a Bitcoin reserve strategy.

Rumble is receiving a fresh strategic investment of $775 million from Tether, the stablecoin giant with over 350 million

Rumble will use $250 million of the money to support operations and the remainder to fund a tender offer for up to 70 million shares of its common stock at a price of $7.50, according to a Friday evening press release. That $7.50 is the same price per share Tether is paying for its stake.

Tether invests $775M in Rumble, boosting stock by 50%, allocating $250M for growth, $525M for share buyback, amid AI platform launch.

Tether has made a $775 million investment in Rumble, a video-sharing platform known for championing free speech.

Shares of Rumble Inc. rocketed higher after hours on Friday after the right-leaning video platform said it landed a $775 million investment from Tether, a giant in the crypto world whose digital assets help fuel trading but have faced scrutiny from analysts and regulators.