tl;dr
Rumble, a video platform with 51 million users, is integrating Bitcoin tipping via Tether, aiming to empower creators and challenge traditional finance. The move coincides with a $17.1 million Bitcoin treasury and a $775 million investment from Tether.
**Rumble Integrates Bitcoin Tipping in Bold Move to Empower Creators**
Rumble, a publicly traded video-sharing platform, has announced a significant step toward embracing cryptocurrency by integrating Bitcoin tipping, according to CEO Chris Pavloski. The revelation came during his keynote speech at the Plan B Forum in Lugano, Switzerland, where Pavloski highlighted the company’s collaboration with Tether, a major stablecoin issuer and investor.
The integration, currently in the testing phase, aims to enable Bitcoin tips for users and creators, with a full rollout anticipated by early to mid-December. “We’re going to start rolling that out alongside Tether here in the coming weeks,” Pavloski stated, underscoring the partnership’s role in shaping the feature.
Rumble, which positions itself as an anti-censorship platform, has attracted a substantial user base. The company reported 51 million active users in Q2 2023, a decline from 59 million in the first quarter. However, Tether CEO Paolo Ardoino emphasized the potential impact of this user base on cryptocurrency adoption. “Potentially, this is one of the biggest user bases that would start adopting Bitcoin and stablecoins,” he said, noting the opportunity to empower creators, particularly in emerging markets and the U.S.
Tether’s $775 million investment in Rumble last December has further solidified the partnership. The investment aligns with Rumble’s mission to provide an alternative to mainstream platforms, drawing conservative content creators who seek greater freedom of expression. Ardoino highlighted how Bitcoin and stablecoins can protect creators from financial censorship, stating, “They will not be debanked for what they say.”
Beyond tipping, Rumble is developing its own crypto wallet in collaboration with MoonPay, aiming to enhance the creator experience. The platform has also adopted a Bitcoin treasury strategy, with $17.1 million in BTC added to its balance sheet in March 2023. As of the end of Q2, Rumble held approximately $25 million in Bitcoin.
Despite these advancements, Rumble’s stock (RUM) closed Friday at $7.14, up 0.56%, but remains down over 45% year-to-date. The company’s efforts to blend video content with blockchain technology reflect a broader trend of traditional platforms exploring crypto integration to adapt to evolving user demands and regulatory landscapes.
As Rumble moves forward with its Bitcoin initiatives, the platform’s ability to attract and retain users—and its impact on cryptocurrency adoption—will be closely watched by investors and creators alike.