Rumble CEO confirms Tether-backed wallet launch in Q3

Rumble’s CEO has announced that a crypto wallet, developed in collaboration with Tether, will launch in the third quarter.

With a launch set for Q3, Rumble’s founder and CEO has confirmed that the company will debut its Bitcoin and stablecoin wallet, directly challenging Coinbase Wallet’s dominance.

By introducing its new crypto wallet, the video streaming platform is actively venturing into the competitive space of non-custodial Bitcoin wallets.

According to a May 9 post on X by Chris Pavlovski, Rumble is teaming up with stablecoin issuer Tether to launch its wallet and directly compete with Coinbase.

“Our goal is to become the most prominent non-custodial Bitcoin and stablecoin wallet, powering the creator economy,” he added.

He stated that the Rumble Wallet will serve as “the vehicle to help monetize creators better than advertisers, especially in international markets.” However, he did not provide further details, though he hinted at possible support for Tether Gold (XAUT).

Chris Pavlovski founded Rumble in 2013 as an alternative to YouTube, and the company has since established itself as a key player in the cryptocurrency space.

In March, Rumble introduced a Tether USDT wallet specifically for creators.

Tether strengthened Rumble’s crypto aspirations by investing $775 million in December 2024.

As the mobile crypto wallet market reached an all-time high of 36 million users in Q4 2024, Rumble chose a timely moment to enter this competitive space, which already includes Coinbase, Robinhood, and PayPal.

Pavlovski targeted Coinbase as the main rival, which reported over 100 million registered users in 2024 which is nearly twice the size of Rumble’s video platform user base.

In March, Rumble adopted a Bitcoin acquisition strategy similar to Michael Saylor’s by purchasing 188 BTC to begin.

At current market prices, the firm holds 210 BTC, which it values at nearly $22 million.

On May 8, the company reported a net loss of $2.7 million for the first quarter. This marked a significant improvement over the $43 million loss it reported in Q1 2024.

Additionally, its GAAP (generally accepted accounting principles) loss of $0.01 per share exceeded analysts’ consensus estimates by 90%.

Rumble reported revenue of $23.7 million, beating estimates by 2.8% and growing from $17.7 million year-over-year.

The company recorded 59 million monthly active users, a decline from the 68 million it reported in Q4 2024.

“Rumble reported strong first-quarter 2025 results, highlighted by 34% year-over-year revenue growth to $23.7 million, driven by increased subscription revenue and monetization across our video and advertising platforms,” said Pavlovski.

Rumble’s stock (RUM) rose by 2.37% in after-hours trading to $7.78, although it has dropped by 40% since the beginning of the year.

Rumble continues to drive innovation, especially in crypto wallets and financial strategies, which may redefine its future in the digital world.