Rumble Partners With El Salvador For Cloud Services

According to Odaily, video-sharing platform and cloud service provider Rumble has entered into a cloud services agreement with the government of El Salvador. The agreement includes providing cloud storage, computing, database, load balancing, and Kubernetes integration services. Last year, Rumble received a strategic investment of approximately $775 million from Tether, a significant player in the cryptocurrency market. In December, Tether invested in Rumble as an alternative to YouTube. Recently, Rumble announced plans to allocate up to $20 million of its excess cash reserves to Bitcoin. Additionally, a secret division within Tether is reportedly assisting in the development of a peer-to-peer chat and video conferencing application called Keet, utilizing technology from another company owned by Tether CEO Ardiono, named Holepunch. Rumble plans to use $250 million to support its growth initiatives, while the remaining funds will be used to purchase up to 70 million Class A common shares at $7.50 per share, matching Tether's investment price. Rumble's Chairman and CEO, Chris Pavlovski, will maintain his controlling interest in the company and has stated he will not sell more than 10 million shares. Tether is set to purchase a total of 103,333,333 shares.