Rumble Will Launch Bitcoin (BTC) and USDT Wallet Targeting Coinbase

Rumble's pro-crypto founder and CEO has confirmed that the firm will launch its Bitcoin and stablecoin wallet in the third quarter of this year, aimed at giving the Coinbase Wallet a run for its money.  The Rumble Wallet will be launched in partnership with stablecoin issuer Tether and compete directly with Coinbase, Chris Pavlovski said in a May 9 X post.

Rumble, the video-streaming platform founded as an alternative to YouTube for smaller content creators, is launching a Bitcoin and stablecoin wallet in the third quarter.

The service, which will be created in partnership with stablecoin issuer Tether, aims to give Coinbase (NASDAQ:COIN) Wallet a run for its money, while also providing creators with a vehicle to help monetize them better than most advertisers, especially in international markets, pro-crypto founder and CEO Chris Pavlovski said in a May 9 X post.

The streaming platform may also add support for Tether Gold (XAUT), a tokenized version of the precious metal that launched in partnership with PayBiPay earlier this year.

“We are going to launch a Bitcoin and stablecoin wallet in Q3. In addition to Bitcoin and stablecoin, we may also add support for Tether Gold,” said Pavlovski.

“The goal is to make the most prominent non-custodial Bitcoin and stablecoin wallet, powering the creator economy. We partnered with Tether to make this happen.”

Rumble is currently integrating a Tether (USDT) wallet for creators on its platform. Tether also invested $775 million in Rumble in December 2024.

The company has also joined the ranks of Michael Saylor’s Strategy (NASDAQ:SI) in becoming a Bitcoin acquisition company since March, when it made its first purchase of 188 BTC. The firm currently holds 210 BTC, valued at almost $22 million at current market prices.

The company reported a net loss of $2.7 million for the first quarter, a vast improvement over the $43 million loss in Q1 2024.

Its GAAP loss of $0.01 per share was 90% above analysts’ consensus estimates, while revenue of $23.7 million edged out forecasts by 2.8%.

This saw shares of the company gain 2.37% to reach $7.78 in after-hours trading, according to Google Finance. However, company stock has lost 40% year to date.

The firm’s Q1 revenue was driven by a 34% year-over-year increase in subscription revenue, and rising monetization across its video and advertising platforms.

“We continue to see strong engagement with our content on Rumble, with over 59 million monthly active users in the first quarter,” said Pavlovski.

“Our goal is to become the leading independent creator-focused entertainment platform in the world, and we are making significant progress toward that goal.”

The company’s net loss was $2.7 million for the quarter, compared to a net loss of $43 million for the same period of 2024. Its adjusted net loss was $10.8 million, compared to an adjusted net loss of $36.3 million a year prior.

This aligns with the company’s goal of achieving profitability by Q4 2025.

“Having the vision to start Rumble in 2013 and to see it through some of the most tumultuous times in economic and technological history has been an incredible privilege,” he added.

“We are proud of the company we have built and the community we have assembled. We are excited for what the future holds as we continue to create and innovate in the years to come.”