Rumble, a video platform that received $775 million from Tether, reached a cloud service agreement with the Salvadoran government

Rumble, a video sharing platform and cloud service provider that received about $775 million in investment from Tether last year, has reached a cloud service agreement with the Salvadoran government to provide cloud storage (object and block storage), cloud computing, database, load balancer and Kubernetes integration services to El Salvador. (GlobeNewswire) In December last year, Tether made a "strategic investment" of $775 million in Rumble, a YouTube alternative platform. Last month, the video platform announced that it would allocate up to $20 million of its excess cash reserves to Bitcoin. In addition, it is understood that a secret department under Tether is helping to develop a peer-to-peer chat and video conferencing application called Keet, which is built using technology created by Holepunch, another company of Tether CEO Ardiono. Rumble said it would use $250 million of it to "support growth plans" and the remaining funds would be used to acquire up to 70 million Class A common shares at $7.50 per share, the same price as Tether's investment. Rumble Chairman and CEO Chris Pavlovski will retain his controlling stake in the company and said he will not sell more than 10 million shares. Tether will purchase a total of 103,333,333 shares.