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Tether, the company behind the world’s largest stablecoin, USDT, is making headlines with a series of bold business moves. From a $775 million investment in the YouTube-alternative platform Rumble to its plans to step into artificial intelligence (AI) by 2025, Tether is diversifying far beyond its stablecoin roots.
Tether’s $775 Million Investment in Rumble
Tether has announced a significant investment of $775 million in Rumble, a platform that positions itself as a competitor to YouTube. As part of this deal, Tether will buy 103.3 million shares of Rumble and will spend $250 million to help Rumble grow and reach more users worldwide.
Tether’s CEO Paolo Ardoino described this investment as part of companies belief in “freedom tech,” which includes supporting decentralized platforms that promote open communication and cryptocurrency.
Interestingly, Rumble is also diving deeper into the crypto world. Last month, it announced plans to use $20 million of its cash reserves to invest in Bitcoin, showing its interest in blockchain technology.
Tether’s Plan to Enter AI
Looking ahead, Tether is gearing up to enter the artificial intelligence industry. In a recent tweet post CEO Paolo Ardoino recently revealed plans to launch Tether’s AI platform in the first quarter of 2025. This is a big move for Tether, which has mainly focused on stablecoins.
Last year, Tether partnered with Northern Data, a company specializing in cloud computing and AI. This partnership helped lay the groundwork for Tether’s entry into AI.
If successful, the platform could help Tether become a leader in combining finance and technology.
Tether (USDT) Revenue Report
Tether’s USDT stablecoin continues to be its biggest moneymaker, helping the company report record profits of $2.5 billion in the Q3 of 2024, bringing year-to-date earnings to an impressive $7.7 billion.
Meanwhile, Tether’s assets have grown to $139.4 billion, fueled by strategic investments in renewable energy, Bitcoin mining, telecommunications, education, and AI.