Rumble, the video streaming platform known for providing an alternative to YouTube, is set to make a splash in the cryptocurrency world with the upcoming launch of its Bitcoin and stablecoin wallet, the Rumble Wallet. The initiative, revealed by CEO Chris Pavlovski, is a partnership with Tether, a major player in the stablecoin market, and aims to compete directly with established wallets such as Coinbase.
Pavlovski made the announcement via a post on X, stating, “Our goal is to become the most prominent non-custodial Bitcoin and stablecoin wallet, powering the creator economy.” This innovative wallet is designed to serve creators better than traditional advertising models, particularly in international markets, and may also support Tether Gold (XAUT), adding an appealing dimension for investors.
Founded in late 2013, Rumble has steadily grown its platform, launching its Tether wallet for creators in March following a significant investment of $775 million from Tether in December 2024. The launch of the Rumble Wallet is part of Rumble’s broader strategy to leverage the emerging cryptocurrency market.
The crypto wallet landscape is crowded, with competitors like Coinbase, Robinhood, and MetaMask. Rumble’s entrance into this market comes at a time when mobile crypto wallet use has reached an all-time high, with data showing that 36 million wallets were active in Q4 2024, according to Coinbase. Despite Rumble’s ambition, it will need to contend with Coinbase’s impressive user base of over 100 million.
In addition to their wallet launch, Rumble has positioned itself as a Bitcoin acquisition company, recently purchasing 188 BTC and currently holding 210 BTC, a value of nearly $22 million at market prices. This investment showcases Rumble’s commitment to integrating cryptocurrency within its business model.
Financial Performance Highlights
In its latest financial report, Rumble announced a net loss of $2.7 million for Q1 2025, a substantial improvement from the $43 million loss reported in the same quarter of the previous year. Revenues for the quarter reached $23.7 million, exceeding estimates by 2.8% and showcasing 34% growth year-over-year, driven by increased subscription revenue and enhanced monetization strategies.
The company reported monthly active users at 59 million, though this number has slightly declined from the 68 million reported in Q4 2024. Despite the dip in user engagement, the first quarter results reflect a positive trend in Rumble’s financial health, further solidifying its position in the market under Pavlovski’s leadership.
While Rumble’s stock experienced a modest increase, gaining 2.37% on the announcement day, it continues to face challenges, with shares down 40% year-to-date. As the digital landscape evolves, Rumble’s foray into cryptocurrency illustrates its commitment to innovation and adaptability in attracting content creators and audiences alike.
As Rumble prepares for the Q3 launch of its wallet, industry observers will be watching closely to see how it impacts the competitive landscape and whether it can indeed become a viable alternative to dominant players like Coinbase.
