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.
“Our goal is to become the most prominent non-custodial Bitcoin and stablecoin wallet, powering the creator economy,” he added.
He continued to state that the Rumble Wallet will be the “vehicle to help monetize creators better than most advertisers, especially in international markets,” though he did not provide further details other than it may support Tether Gold (XAUT) as well.
The video streaming platform, founded in late 2013 as a YouTube alternative for small content creators, first announced the launch of a Tether (USDT) wallet for creators in March. Tether invested $775 million in Rumble in December 2024.
Related: Tether launches on Kaia, brings USDt to LINE’s 196M user ecosystem
The Rumble Bitcoin (BTC) wallet is entering a crowded crypto wallet application market dominated by Coinbase, Robinhood, eToro, PayPal, Revolut, Crypto.com and MetaMask.
The use of mobile crypto wallets hit an all-time high of 36 million in Q4, 2024, according to Coinbase. The firm, which Pavlovski aims to compete with, reported more than 100 million registered users in 2024, almost double that of Rumble’s video platform.
Rumble has also joined the ranks of Michael Saylor’s Strategy in becoming a Bitcoin acquisition company since March, when it made its first purchase of 188 BTC. The firm currently holds 210 BTC, worth almost $22 million at current market prices.
Rumble Q1 revenue beat estimates
The firm reported a net loss of $2.7 million for the first quarter on May 8. However, this significantly improved over the $43 million loss in Q1 2024.
Additionally, its GAAP (generally accepted accounting principles) loss of $0.01 per share was 90% above analysts’ consensus estimates.
Rumble’s revenue was $23.7 million, exceeding estimates by 2.8% (and up from $17.7 million year-over-year. The firm also reported 59 million monthly active users, down from 68 million 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 shares (RUM) gained 2.37% on the day to reach $7.78 in after-hours trading, according to Google Finance. However, company stock has lost 40% year to date.
Magazine: Bitcoin to $1M ‘by 2029,’ CIA tips its hat to Bitcoin: Hodler’s Digest