Introduction
Chris Pavlovski, the CEO and founder of Rumble, recently announced via a post on X that the company intends to unveil its new crypto wallet—dubbed the Rumble Wallet—in the upcoming third quarter of the year. This wallet, developed in collaboration with Tether, the issuer of stablecoins, is designed to rival the popular Coinbase Wallet.
Ambition and Features
Pavlovski emphasized the ambition behind this initiative, stating that it aims to be the leading non-custodial wallet for Bitcoin and stablecoins, thereby enhancing the monetization opportunities for creators in the industry. While further specifics about the wallet were sparse, he hinted at the possibility of incorporating support for Tether Gold (XAUT).
Company Background and Market Context
Rumble, which started as an alternative platform for small content creators in 2013 to compete with YouTube, had initially revealed plans for a Tether View More wallet tailored for creators back in March. Notably, Tether made a significant investment of $775 million into Rumble in December 2024, and the upcoming wallet will enter a fiercely competitive market filled with established applications such as Coinbase, PayPal, and Crypto.com.
Market Trends
Mobile crypto wallets have seen usage soar, with Coinbase reporting a peak of 36 million active wallets in the fourth quarter of 2024. During the same period, Coinbase experienced a tremendous surge in user registration, surpassing 100 million, a staggering figure compared to Rumble’s total user base of around 59 million monthly active users as of Q1 2025, which marks a decrease from 68 million in the previous quarter.
Cryptocurrency Strategy and Financial Performance
In terms of cryptocurrency holdings, Rumble has embraced a strategy akin to that of notable figures in the crypto space like Michael Saylor and has accumulated a total of 210 Bitcoin, equivalent to almost $22 million at current prices. This follows their initial purchase of 188 BTC earlier this year.
On the financial front, Rumble reported a net loss of $2.7 million for Q1 2025, a significant improvement compared to the $43 million loss recorded in the same period in 2024. Their quarterly revenue reached $23.7 million, exceeding forecasts by 2.8%, and representing a 34% increase year-over-year, attributed to a boost in subscription sales as well as monetization initiatives across their video and advertising services.
Stock Performance
Despite the positive revenue growth, Rumble’s stock, traded under the symbol RUM, has faced challenges, experiencing a 40% decline year-to-date, although it slightly recovered by 2.37% to $7.78 in after-hours trading, according to figures from Google Finance.
Conclusion
Overall, as Rumble prepares to launch its new crypto wallet, the company seeks to position itself effectively in a competitive market while navigating its current financial landscape.
