In short
- Rumble has partnered with Tether to incorporate Bitcoin tips into its video sharing platform.
- The company adopted a Bitcoin treasury strategy and bought its first tranche earlier this year.
- Shares of Rumble (RUM) fell slightly on Friday, now down more than 45% year-to-date.
Publicly traded video-sharing platform Rumble is integrating Bitcoin tipping, the company’s CEO Chris Pavloski announced while on stage at the Plan B Forum in Lugano, Switzerland.
The company is working with stablecoin issuer and major investor Tether to enable Bitcoin tips, which are expected to be fully rolled out in early to mid-December.
“Right now we are in the testing phase,” said Pavloski. “We will be rolling that out here alongside Tether in the coming weeks.”
The YouTube rival had approximately 51 million active users in the second quartercompared to 59 million in the first quarter of the year.
“Potentially, this is one of the largest user bases that would adopt Bitcoin and stablecoins,” said Tether CEO Paolo Ardoino as he stood next to Pavloski on stage.
Last December, Tether has committed an investment of $775 million in Rumble, which positions itself as an anti-censorship platform and has become popular with conservative content creators.
“Bitcoin and stablecoins can serve not only a segment of the population that is very dear to Tether – that is, the population of emerging markets – but also in the primary economy such as the United States,” Ardoino said. “You can actually find use cases for Bitcoin and stablecoins that are really going to empower creators and give them the assurance that they’re not going to get charged for what they say.”
Sharing videos and streaming company also partners with crypto payments company MoonPay to create its own crypto wallet, another feature claims it will improve the creator’s experience on the platform.
Last year, Mess has adopted a Bitcoin treasury strategy and revealed plans to invest up to $20 million in cash reserves to stack BTC. In March she followed up on these plans, adding $17.1 million worth of BTC to its balance sheet.
According to the quarterly update, the company owned approximately $25 million worth of BTC at the end of the second quarter.
Shares in Rumble (RUM) closed 0.56% higher on Friday, changing hands to $7.14. Shares are down more than 45% this year.
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