Rumble At The Core: How Tether Plans To Dominate The US Stablecoin Market

Tether, the powerhouse behind the world’s largest stablecoin by trading volume, USDT, has unveiled a strategic plan to expand its presence in the US market, a landscape that has evolved significantly under the Trump ￰0￱ the recent enactment of the GENIUS Act, which establishes a new regulatory framework for stablecoins and cryptocurrency firms issuing dollar-pegged cryptocurrencies, Tether is eager to capitalize on these developments. Tether’s US Market Comeback In a recent interview with Bloomberg, Tether’s CEO, Paolo Ardoino, reaffirmed the firm’s plans to launch a new token, USAT, designed to comply with US ￰1￱ to Tether’s strategy is its partnership with Rumble, a growing video platform with a substantial user ￰2￱ Reading: Did Bitcoin Top?

Top Trader Warns Of Brutal $98,000 Liquidity Sweep Notably, Tether holds a 48% stake in Rumble, following a notable $775 million investment in the company made in ￰3￱ emphasized the significance of Rumble’s 51 million monthly active users, stating, “That is already a huge amount of users if you compare to what the competition has now in the United States.” The US stablecoin market includes Circle (CRCL), the issuer of the second-largest dollar-pegged cryptocurrency, USD Coin (USDC), and a host of new entrants in the stablecoin ￰4￱ Trump administration has prioritized the growth of privately issued stablecoins, particularly through the GENIUS Act, which aims to create a supportive environment for issuers.

Tether, having faced scrutiny in the past—including a $41 million fine for allegedly misrepresenting its reserves—has recently made a concerted effort to re-establish its foothold in the US ￰5￱ For $500 Billion Valuation With a profit of $4.9 billion recorded in the second quarter of the year, Tether has strategically invested its reserves in cash-like assets, including US Treasuries, generating significant interest ￰6￱ company’s recent ventures also extend into various industries, encompassing artificial intelligence (AI), energy, and ￰7￱ outlined that Rumble’s upcoming crypto wallet will play a crucial role not only for USAT but also for Tether’s tokenized gold product.

Rumble’s CEO, Chris Pavlovski, echoed Ardoino’s sentiments, stating that the partnership embodies the principles of free speech and decentralized finance (DeFi). “Rumble represents free speech just as Tether’s cryptocurrency and a decentralized internet represent true liberty,” he noted, highlighting the shared vision that unites the two ￰8￱ Reading: XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally Additionally, Tether is seeking to raise up to $20 billion for a 3% stake, potentially valuing the company at around $500 ￰9￱ described this valuation as a bargain, although he did not provide detailed ￰10￱ this fundraising effort succeed, Tether plans to allocate part of the proceeds towards developing an artificial intelligence platform designed to function on low-cost smartphones in emerging markets, particularly in Africa and South America.

Tether’s CEO also mentioned the creation of an offline, artificial intelligence-powered language translation application as part of this ￰11￱ image from DALL-E, chart from ￰12￱