The crypto stablecoin venture Tether says that it is investing $775 million in the video sharing platform and cloud provider , which has become a favorite of conservative hosts and content creators and positions itself as a free speech alternative to its competitors. The companies announced the deal Friday evening. Rumble will receive $250 million in the deal, with the remaining proceeds “to fund a self tender offer for up to 70 million of its Class A Common Stock, at the same price ($7.50 per share) as Tether’s investment,” the companies say. Rumble is a competitor to , playing host to people like conservative commentators like Dan Bongino, Steven Crowder and Andrew Tate, the journalist Glenn Greenwald, gamer Dr. Disrespect, and Dana White’s competitions. Its shareholders include Bongino, and a venture capital firm co-founded by Vice president-elect JD Vance. Vance’s financial disclosures also showed that he has a personal stake in Rumble valued at between $100,000-$250,000. Rumble says that after the investment closes, chairman and CEO Chris Pavlovski will still hold a majority stake in the company, though he will sell as many as 10 million shares in the tender offer. Tether, meanwhile, has become one of the most prominent stablecoins in the crypto universe, with more than 350 million users. “I could not be more excited about this collaboration with Tether for a number of reasons,” Pavlovski said in a statement. “First, many people may not realize the incredibly strong connection between the cryptocurrency and free speech communities, which is rooted in a passion for freedom, transparency, and decentralization. Second, the immediate commitment of adding $250 million in cash to our balance sheet not only confirms the level of support and commitment to a collaboration between our companies, it also fuels our growth initiatives. And, third, this transaction provides an immediate liquidity event for all of our stockholders who elect to participate in the self tender offer. I truly believe 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.” “Tether’s investment in Rumble reflects our shared values of decentralization, independence, transparency, and the fundamental right to free expression,” added Paolo Ardoino, CEO of Tether. “In today’s world, legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative. This collaboration aligns with our long-standing commitment to empowering technologies that promote freedom and challenge centralized systems, as demonstrated through our recent collaborations and initiatives. Rumble’s dedication to fostering open communication and innovation makes them an ideal ally as we continue building the infrastructure for a more decentralized, inclusive future. Lastly, beyond our initial shareholder stake, Tether intends to drive towards a meaningful advertising, cloud, and crypto payment solutions relationship with Rumble.” THR Newsletters Sign up for THR news straight to your inbox every day More from The Hollywood ReporterMIAMI , Dec. 20, 2024 /PRNewswire/ -- Hyatt Centric South Beach Miami is proud to announce the completion of its highly anticipated renovations, redefining luxury and sophistication in the heart of South Beach at 1600 Collins Ave, Miami Beach, FL 33139. Designed by Lang & Schwander to embody the vibrant energy and upscale charm of Miami , the updates include newly reimagined rooms and suites, check-in lobby, inclusivity spaces, from food and beverage and communal lounge areas that celebrate the hotel's commitment to connecting guests to the pulse of the city. Elevated Rooms and Suites The newly renovated 105 guest rooms and suites blend modern design with thoughtful functionality. Each space is adorned with sleek furnishings, neutral tones, and vibrant accents inspired by Miami's art scene. Enhanced amenities include plush bedding, state-of-the-art technology, and expansive windows offering stunning views of South Beach's iconic skyline and coastline. Enhanced Check-In Lobby and Inclusivity Spaces Guests are greeted with an upgraded check-in lobby on the third floor that exudes warmth and style. Featuring contemporary decor and comfortable seating, the space serves as an inviting prelude to their South Beach experience. Communal areas have also been reimagined to foster connection, offering vibrant social spaces. From a chic full bar serving classic and unique cocktails, to indoor communal lounge area to serene outdoor terraces, Hyatt Centric South Beach Miami provides the perfect setting to connect and recharge with fellow travelers. Unparalleled Amenities Hyatt Centric South Beach Miami continues to deliver exceptional amenities that cater to modern travelers. Guests can enjoy: "Hyatt Centric South Beach Miami has always been envisioned as a destination where the vibrant spirit of South Beach meets unparalleled hospitality. Our recent renovations mark the next chapter in our dedication to elevating guest experiences and showcasing the beauty and culture of Miami Beach ," said Robert Finvarb , Founder of Robert Finvarb Companies. Hyatt Centric South Beach Miami serves as the ultimate launchpad for adventure, offering guests access to the city's finest attractions, including Ocean Drive, Lincoln Road Mall, and the Art Deco Historic District. About Hyatt Centric Hyatt Centric is a brand of full-service lifestyle hotels located in prime destinations. Created to connect guests to the heart of the action, Hyatt Centric hotels are thoughtfully designed to enable exploration and discovery so they never miss a moment of adventure. Each hotel offers social spaces to connect with others in the lobby, meanwhile the bar and restaurant are local hot spots where great conversations, locally inspired food and signature cocktails can be enjoyed. Streamlined modern rooms focus on delivering everything guests want and nothing they don't. A passionately engaged team is there to provide local expertise on the best food, nightlife and activities the destination has to offer. For more information, please visit hyattcentric.com . Follow @HyattCentric on Facebook and Instagram , and tag photos with #HyattCentric. About Robert Finvarb Companies Hyatt Centric is a brand of full-service lifestyle hotels located in prime destinations. Created to connect guests to the heart of the action, Hyatt Centric hotels are thoughtfully designed to enable exploration and discovery so they never miss a moment of adventure. Each hotel offers social spaces to connect with others in the lobby, meanwhile the bar and restaurant are local hot spots where great conversations, locally inspired food and signature cocktails can be enjoyed. Streamlined modern rooms focus on delivering everything guests want and nothing they don't. A passionately engaged team is there to provide local expertise on the best food, nightlife and activities the destination has to offer. For more information, please visit hyattcentric.com . Follow @HyattCentric on Facebook and Instagram , and tag photos with #HyattCentric. About Robert Finvarb Companies Robert Finvarb Companies (RFC) is a private real estate investment and development company based in Miami, Florida . Robert Finvarb , founder of the company, started his development career in 2002. Since then, RFC has developed nineteen hotels containing an excess of 3,500 guestrooms that operate under various Marriott and Hyatt brands and are located in seven states and the District of Columbia . RFC has a reputation for developing high-quality assets and possesses a track record of success in all market cycles. As a private company, the principals invest their own equity in all projects and are personally involved in all phases of development and operations. For more than 20 years, RFC has carefully cultivated its reputation of excellence in the hospitality industry. RFC's team of development and lodging specialists have a wide-ranging expertise in real estate and capital markets that is applied in identifying accretive investment opportunities to maximize the financial performance of such projects. CONTACT: Jacqueline Mercado Hyatt Hotels Corporation + 1 786 578 6886 jacqueline@identitymediapr.com View original content to download multimedia: https://www.prnewswire.com/news-releases/new-year-new-look-hyatt-centric-south-beach-miami-debuts-elevated-style-and-luxury-302337669.html SOURCE Hyatt Centric South Beach Miami
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