Tether teams up with Rumble to launch USAT stablecoin in US

Tether Holdings SA will partner with video gaming streaming platform Rumble ￰0￱ expand adoption of its newly launched USAT stablecoin in the United States, executives announced Wednesday at the Token2049 conference in ￰1￱ at the conference earlier today, Chief Executive Paolo Ardoino told the audience that Rumble will launch a Tether-powered crypto wallet featuring USAT and other stablecoins, scheduled for release later this year. “Rumble has 51 million active users per month,” Ardoino said. “That is already a huge amount of users if you compare it to what the competition has now in the United States.” According to Bloomberg data, Tether holds a 48% stake in Rumble, having invested $775 million in ￰2￱ deal gave Tether significant influence over the YouTube rival, which Americans have dubbed a conservative-leaning alternative to mainstream ￰3￱ stablecoin was launched for American users According to the USDT issuer, USAT is a dollar-backed stablecoin created for the US market, specifically because it complies with American regulatory ￰4￱ Hines, a former Executive Director of the White House Crypto Council under President Donald Trump, was appointed CEO of ￰5￱ team will be based in Charlotte, North Carolina, where Hines has political ￰6￱ has long profited from investing the reserves backing its flagship USDT stablecoin into US Treasuries and similar ￰7￱ the second quarter, the El Salvador-based company reported $4.9 billion in profit, according to a July blog post from the ￰8￱ is the largest stablecoin in circulation, with a supply of $174.6 billion, per data from ￰9￱ main rival, Circle’s USDC, trails as the second-largest digital dollar but has more influence and ties to US crypto exchanges like Coinbase.

Tether’s acquisition of Rumble shares in December 2024 secured nearly half the ￰10￱ used $250 million of the proceeds to support growth initiatives, while the rest funded a self-tender offer for up to 70 million shares of Class A stock at $7.50 each, the same price as Tether’s investment. Rumble’s founder and CEO, Chris Pavlovski, maintained his controlling stake after the Tether agreement. “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,” Pavlovski ￰11￱ stablecoin market heats up, Tether makes more investments The stablecoin sector has grown exponentially since the passage of the GENIUS Act in July, which established a federal framework for dollar-backed ￰12￱ legislation, championed and signed into law by President Trump, has encouraged private issuers to expand operations in the ￰13￱ years of absence from the US due to sanctions, Tether’s return to the US saw it pay a $41 million fine to settle allegations that it misrepresented its ￰14￱ had reported that Tether is seeking to raise up to $20 billion through the sale of a 3% ￰15￱ to a Bloomberg exclusive, the offering could value the company at nearly $500 billion, pitting it against some of the world’s largest private firms like Elon Musk’s SpaceX and ChatGPT parent company ￰16￱ source close to the discussions insisted that talks are still at an early stage, and final details, including the size of the stake, could change.

A few hours after the news broke, Ardoino took to his X account to say the “key investors” were involved and the “valuation is a discount,” without elaborating on the ￰17￱ to CEO Ardoino, the proceeds from a potential capital raise could support Tether’s ambitions in artificial ￰18￱ company is reportedly hiring dozens of specialists to build an AI platform capable of running on low-cost ￰19￱ project includes an offline language-translation app powered by AI agents to be used in developing regions with limited internet connectivity, particularly in Africa and South America. Don’t just read crypto ￰20￱ ￰21￱ to our newsletter. It's free .