YouTube competitor Rumble (RUM) has formed a partnership with Tether for a substantial investment of $775 million. The platform plans to allocate $250 million to operations and the remaining funds for a tender offer to buy back up to 70 million shares at $7.50 each, which aligns with Tether's purchase price for its stake.

"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. ( "Truly, I believe Tether is the ideal partner that can propel Rumble into its next growth phase.")

Tether CEO Paolo Ardoino remarked, "Legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative." ( "Traditional media has progressively lost public trust, creating an opening for platforms like Rumble to serve as a trustworthy, unfiltered alternative.")

Following this news, RUM shares surged 41% in after-hours trading to a new price of $10.13.

It remains unclear if a portion of the investment will be directed towards purchasing Bitcoin (BTC) for Rumble's balance sheet, but in November, CEO Pavlovski hinted at possible interest in acquiring Bitcoin.