Rumble Acquires All Shares of Tether (USDT) Affiliate Northern Data… Tether Emerges as Largest Shareholder
JH Kim
Summary
- The video sharing platform Rumble announced plans to acquire the cloud computing company Northern Data through a complete stock swap.
- Tether, the USDT issuer, holds approximately 54% of Northern Data's shares, and has agreed to exchange those shares for Rumble stock as part of the merger.
- Upon completion of the transaction, Tether will become the largest single shareholder of Rumble Class A common stock.
According to CoinDesk, a virtual asset (cryptocurrency) media outlet, on the 11th (local time), the video sharing platform Rumble plans to acquire the cloud computing company Northern Data through a complete stock swap.
USDT issuer Tether has previously invested in both companies and is reported to support this merger. Currently, Tether holds approximately 54% of Northern Data’s shares, and during the merger process, Tether has agreed to exchange those shares for Rumble stock and to purchase GPUs from Rumble for several years.
Once the transaction is completed, Tether will become the largest single shareholder of Rumble Class A common stock.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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