Rumble Wallet, in partnership with Tether, is going head-to-head to compete with Coinbase

In a move that sparks anticipation, Rumble is developing its own crypto wallet in partnership with Tether, aiming to take on Coinbase.

The proposed Rumble Wallet is set to launch in Q3 2025, aiming to challenge Coinbase Wallet’s dominance. Focusing on creators and international markets, the new wallet will combine non-custodial control with support for Bitcoin and stablecoins.

“Our goal is to become the most prominent non-custodial bitcoin and stablecoin wallet, powering the creator economy,” said CEO Chris Pavlovski on X.

Tether's Investment Fuels Crypto Push

Tether invested $775 million in Rumble in December 2024. That funding is now driving the launch of Rumble Wallet and boosting the platform’s crypto expansion.

The non-custodial crypto wallet will help creators monetize outside traditional ad models. Support for Bitcoin, Tether (USDT), and possibly Tether Gold (XAUT) will allow cross-border flexibility.

For creators looking to retain financial independence, Rumble Wallet positions itself as a future-proof solution. The move follows the reports of Meta exploring stablecoin payouts to creators and businesses.

Coinbase Reported Over 100 Million Users in 2024. That Leaves a Wide Gap for New Wallet Players

Mobile crypto wallet adoption hit 36 million users in Q4, a record high.

Annually, the company posted $23.7 million in Q1 revenue, a 34% increase. Losses shrank to $2.7 million, with crypto holdings of 210 BTC (worth $22 million) on the books.

As of January 2024, Coinbase crypto exchange had over 104 million verified users, up from 98 million in the prior quarter. The company's net revenue for the fourth quarter of 2024 came in at $2.73 billion, marking a 12% increase from the previous quarter. However, compared to the same period last year, there was a decline of 14%.

Coinbase crypto exchange reported a net loss for the fourth quarter of 2024, amounting to $1.14 billion. This follows a net income of $95 million in the third quarter. Analysts had anticipated a broader loss for the period.

Coinbase crypto exchange's adjusted operating expenses for the fourth quarter of 2024 came in at $1.46 billion, aligning with analysts' estimates.

Coinbase crypto exchange announced that it is suspending its stock buyback program due to the timing of a new share award to employees, which falls in the first quarter of 2025. The company also saw a decrease in transaction revenue during the fourth quarter of 2024.

Coinbase crypto exchange applied for banking licenses in the United States in 2024, aiming to gain broader financial services authorization.

Coinbase crypto exchange had cash, cash equivalents, and marketable securities totaling $8.7 billion as of December 31, 2024.

Coinbase crypto exchange saw a 19% quarter-over-quarter reduction in transaction revenue, which came in at $1.3 billion for the first quarter of 2025. Despite this decline, transaction revenue showed an annual growth of 154%.

Coinbase crypto exchange experienced a smaller-than-expected loss in the first quarter of 2025, with adjusted operating expenses also falling short of projections.

Coinbase crypto exchange saw its stock rise by 6% in pre-market trading on Thursday after reporting a smaller-than-expected loss for the first quarter and adjusting operating expenses that fell short of projections.

Coinbase crypto exchange reported an adjusted operating loss of $266 million for the first quarter of 2025, while analysts had estimated a broader loss of $349 million.

Coinbase crypto exchange experienced a 19% quarter-over-quarter decline in transaction revenue, reaching $1.3 billion. However, this figure still showed an annual growth of 154%. Analysts had projected transaction revenue of $1.12 billion.

Coinbase crypto exchange's total revenue for the period amounted to $2.65 billion, exceeding analysts' estimates of $2.44 billion.

Coinbase crypto exchange had previously announced that it was planning to lay off around 20% of its staff in response to sluggish cryptocurrency prices and a broader economic downturn.

Coinbase crypto exchange also announced that it is suspending its stock buyback program due to the timing of a new share award to employees, which is planned for the first quarter of 2025.

Coinbase crypto exchange applied for banking licenses in the United States this year, aiming to gain broader financial services authorization. As of December 31, 2024, the company had cash