>Rumble (RUM) shares skyrocketed 60% Monday morning after the video platform received a $775 million investment from Tether, operator of a cryptocurrency platform and creator of the stablecoin of the same name. >Rumble announced that Tether had purchased 103.3 million shares of Rumble for $7.50 each. It noted that the transaction would not change the status of Chief Executive Officer (CEO) Chris Pavlovski as majority stakeholder in the firm.1 >The company said it will use $250 million of the proceeds to "support growth initiatives and the remaining proceeds to fund a self tender offer for up to 70 million of its Class A Common Stock, at the same price." >Pavlovski called Tether "the perfect partner that can put a rocket pack on the back of Rumble as we prepare for our next phase of growth." >Tether CEO Paolo Ardoino added that along with the investment, his firm plans to form "a meaningful advertising, cloud, and crypto payment solutions relationship with Rumble." . . [Source](https://www.investopedia.com/rumble-stock-soars-after-video-platform-gets-usd775m-investment-from-tether-8765696)