Rumble, the video-sharing platform known for supporting alternative media voices, is set to launch its Bitcoin and stablecoin wallet by the third quarter of 2025. This initiative, announced by CEO Chris Pavlovski on May 9, aims to directly challenge the dominance of Coinbase Wallet in the competitive crypto space.
The Rumble Wallet, developed in partnership with Tether, seeks to redefine how creators monetize their content. Pavlovski emphasized that the goal is to become the "most prominent non-custodial Bitcoin and stablecoin wallet, powering the creator economy." He added that the wallet will serve as "the vehicle to help monetize creators better than most advertisers, especially in international markets," although he did not provide further specifics.
The initial version of the Rumble Wallet is expected to support Bitcoin and Tether's USDT, with potential future support for Tether Gold (XAUT). This move aligns with Rumble's broader strategy of increasing its footprint in the cryptocurrency space, particularly following its first Bitcoin acquisition earlier this year.
In March 2025, Rumble disclosed that it had purchased 188 BTC as part of a strategy to build its cryptocurrency holdings. As of May 9, the company holds a total of 210 BTC, valued at nearly $22 million at current market prices.
The launch of the Rumble Wallet comes at a time when the mobile crypto wallet market is booming, having reached an all-time high of 36 million users in the fourth quarter of 2024, according to Coinbase. This growth presents a significant opportunity for Rumble to carve out its niche in a market currently dominated by established players like Coinbase, Robinhood, eToro, PayPal, and Crypto.com.
Coinbase reported over 100 million registered users in 2024, nearly double the user base of Rumble's video platform, which reported 59 million monthly active users as of May 8, 2025. This represents a decline from the 68 million users reported in the previous quarter.
Despite the challenges in user engagement, Rumble's financial performance in the first quarter of 2025 showed marked improvement. The company reported a net loss of $2.7 million, a significant reduction from the $43 million loss it incurred 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 for the first quarter was reported at $23.7 million, exceeding estimates by 2.8% and representing a year-over-year increase from $17.7 million. Pavlovski noted that this growth was driven by increased subscription revenue and monetization across the platform's video and advertising services.
On the stock market, Rumble's shares (RUM) rose by 2.37% in after-hours trading on May 9, reaching $7.78. However, the stock has seen a decline of 40% since the beginning of the year, reflecting the broader challenges facing the company as it pivots towards cryptocurrency.
The partnership with Tether, which invested $775 million in Rumble in December 2024, has given the company a significant boost in its crypto ambitions. This investment included the acquisition of over 103 million Class A shares, providing Tether with considerable influence over Rumble's operations.
As Rumble prepares to roll out its wallet, it is betting heavily on the potential of blockchain technology to transform the way creators earn and interact with their audiences. The company’s strategic moves in the cryptocurrency market reflect a growing trend among digital platforms to offer innovative financial solutions that cater to the needs of content creators.
With its focus on peer-to-peer transactions, the Rumble Wallet aims to facilitate direct payments from fans to creators through tips, subscriptions, and other income streams. This could significantly enhance the monetization opportunities for creators, particularly in international markets where traditional payment methods may be less accessible.
The competition in the crypto wallet market is fierce, and Rumble faces the challenge of establishing itself as a trusted alternative to established players like Coinbase. However, with its unique focus on the creator economy and a strong backing from Tether, Rumble is poised to make a significant impact in the digital asset landscape.
As the cryptocurrency market continues to evolve, Rumble's entry into the wallet space could be a game-changer for both the platform and its users. The success of the Rumble Wallet will depend on its ability to attract users and provide a seamless experience that meets the demands of content creators and their audiences.
In summary, Rumble's upcoming wallet launch represents a bold step into the cryptocurrency arena, aiming to empower creators and challenge the status quo in digital asset management. With a solid foundation and strategic partnerships, Rumble is positioning itself to redefine how creators monetize their work in the ever-changing landscape of online media.
