Welcome, welcome, welcome. And we are back with a specialty episode of the Matt Core Show where I once again have the privilege to have an interesting conversation with the CEO, founder, and chairman of Rumble. First of all, Chris, how you doing? Massive congrats on the quarter. The numbers are impressive.
Yeah, this summer I don't think anyone on our team has slept at all. We're working around the clock. It's been wild. Working on the wallet, working on deals, working on so many different things, but it's been a very busy summer for us.
I feel as if I've had the interesting position where pretty much every quarter we kind of chitchat about how things have been going. I kind of pop in, see how it is. And because of that vantage point, I feel like even if you rewind a year and a half, two years ago, the big thing was always like, 'Oh, we're getting this big creator, we're striking this big deal.' But now your definition of big is we're talking about mergers and acquisitions. The big is now so much bigger. I really appreciate that growth. Even a year and a half ago, two years ago, we always talked about the Super Bowl kind of year for you guys, and hey, we're going to get Rack, and that was like a big reach for you, and now it's in the rearview mirror and the mountain tops that you guys are seeing are just so much different.
Yeah, we're trying to put block on top of block right now and build a really, really good business. That's the goal. Ever since the election last year, things changed quite a bit. We were in an environment for like four to five years where we're getting attacked all the time. Brands didn't want to work with us. They wouldn't even pick up our phone. And then President Trump wins the election late in 2024 and everything changes overnight. We get to December of 2024, we announced the Tether thing. We closed the Tether transaction in February of 2025 and now it's a completely new mandate. We have Tether as a huge shareholder of Rumble and a huge backer of this company. It's completely changed the thought process and the mandate of what we're doing here at Rumble. It's been funner than ever to be quite honest with you. It's a lot better when you have a lot of companies you can start working with. It's a lot better when you know you have the resources that Tether has. You take a look at Tether, they're the most profitable company in the world per employee. They make more money in profit than Oracle and Tesla combined. I think they did close to five billion in profit last quarter. So there isn't really a company like that out there. And to know that they're behind Rumble and they're going to go all in on Rumble, it's a pretty comforting thing. It really allows us to unleash. It allows us to build. We're hiring top guys from Google to come onto our cloud team. We hired a CMO that came from Google and Zoom. We're really stepping on the gas on hiring really, really good talent into the company. We're building faster and our velocity of building product is increasing. Everything we're doing now is to really just broaden this company and really take on big tech. The vision hasn't changed one bit. We're taking it on, but we're no longer going to settle with being like a mini version of Google. Now that we have Tether, we're going to be fiercely competing against Google. We think that we can do real serious damage in the cloud space, real serious damage in the video space, in the AI space. We want to really just go after their ecosystem in a major way and we're not going to hold back. We have myself who is super motivated to do that and our new owners, Tether, as well equally motivated to do that. And that's evidenced every day with what they're doing with Rumble. They've started advertising with Rumble in Q2. We're building the wallet with them right now, which is a huge undertaking and it's a massive project. I think it's the project that will unleash a new wave of growth on Rumble. Going to market with something that allows creators like yourself to start receiving tips in Bitcoin, it's a first mover market advantage for us there. It's a competitive edge that we'll have. But it's also the marketing plan that sits behind it. You are, let's say, using Rumble Studio and you have the opportunity to make, you know, you have 10,000 people watching you and you want to make $5,000, $10,000 reading the wallet ad, you can advertise and endorse the wallet ad through Rumble Studio and the creator makes money, Rumble makes money, and more usage on the Rumble platform and then obviously the wallet grows around the web.
So, it's a much better period in time for Rumble. I think the future is very bright. It's the brightest it has ever been and it's the most exciting time it has ever been to be at Rumble. I can tell you our staff is all here. No one has taken off. They're all here and we're adding to the staff and we're all equally pumped to see this through. We now have a real opportunity to go and face the big guys. When you think and you step back, YouTube has Google. They can always tap into the pockets of Google. They did in the first 5, 10 years of their business. They were losing enormous amounts of cash and they had the huge resources of Google to help them out. We now have Tether. Tether is a big backer of us and it allows us to go out and compete in a way that I don't think we had the ability to do years ago or even recently until we closed that deal with them in February. So I'm pumped. This is the most exciting time it's ever been to be at Rumble and I'm so excited to see everything through here in the next couple years.
With all those things that you listed, and I want to touch on a few of them, I guess the larger question is we've had these conversations before where it seems like that was your north star and that's what you wanted to do. But without this Tether partnership that we'll really say started in BIO, was that like one of the most major milestones in the history of Rumble, to now be truly having the chance to effectively pull it off?
We were in isolation. All our growth was happening in isolation, meaning no one wanted to work with us. It was just us pounding as hard as we can to try to get growth and try to grow and bring advertisers into the platform. Now it's different. Now we're not in isolation anymore. So now we can unleash and we can unleash with huge backing and a great partner like Tether. I know we didn't get to do this call after the last earnings, so we didn't get a chance to really talk about the Tether stuff. That's why I'm kind of leaning into that a little bit more, but obviously I'm also leaning into it because it's true. They are, you know, they're going to be the jetpack on Rumble. They care about it that deeply and they are so aligned on that vision. They're building their wallet SDK. We're the first one to use it and they're all in on that with Rumble. So you can kind of start to see with the announcement today, last night I should say, and what we're doing with the wallet, you can kind of see how much Tether actually truly believes in Rumble and wants to see Rumble succeed.
Obviously all the viewers who are big fans and supporters of Rumble know this partnership with Tether. But maybe something that hasn't been publicly talked about, how did that deal even come about? Did you just DM one day and be like, 'Hey, we should be partners,' or how did that even work?
So, I got introduced to them late last year. It was the coolest meeting I've ever had to be quite honest with you. It was interesting because they actually wanted more shares than we could even find them. They wanted to buy even more than we were able to deliver to them. That's an amazing thing when someone wants to buy into your company and you can't find them enough shares to do so. It's, I think, a cool little story. It happened really fast. They were very passionate about Rumble. They saw, they're very passionate about the whole digital freedom aspect, you know, being USDT and being one of the largest holders of Bitcoin out there. They are very, very big on decentralization, freedom, and just independence in a way that I don't know any other company has that same shared value that we do like they do. So it was a perfect match. It happened in a matter of weeks after meeting them, so it was super fast. And it's been an incredible relationship since.
I love to hear it. We've said this so much, but just generically the perception of RUM of, hey, we are here to protect the free and open internet, and the ethos is very similar to the world of crypto, especially Bitcoin. And we even saw that with Rumble having the stand at the Bitcoin conference and the amount of people that came up, there were natural overlaps of the type of person and the ideology. So it's so great that Tether, obviously a leader in the industry, sees that in you guys, both of you guys leading your respective domains. And as you said, so announced the partnership with MoonPay, that sounds great. We are looking forward to the Rumble wallet in next quarter, that sounds like it's going to be a big, big thing.
Q3, actually this quarter.
This quarter, yeah. So that, and then it seems like one of the big ones where we saw in pre-market trading today and even into the current session right now is now even leaning into the world of AI. And of course in the stock market, crypto and AI still have quite a bit of overlap. So I know right now, from what we saw and what was discussed, it sounds like since it's not really a done deal, you can't share much. Anything to say on that?
Yeah, like legally speaking, our lawyers are advising me to stay quiet for the moment. So I'll stay quiet on that.
All right. Well, the press release is there that everyone can refer to and there's a lot of detail in there. Well, maybe this will almost revert to one of my normal shows where I'm just going to share with the audience some of the things that I found today on the internet and let's not comment. I don't want you guys to get into any legal trouble there. But for those of you who maybe missed the big Rumble announcement of the day among many things, a company that was in the discussion is Northern Data. And once again, just to reiterate, this really sounds like it's not a done deal. So we're going to be waiting on that. But this company is in the world of GPUs, AI, GPUs as a service, like a rental service, data centers. And right now this is the hot thematic trade. It's the hot thematic investment. And yes, there's a lot of relations to data centers and AI and really just this is what tech is right now. This is the current tech world. And what I found from my own searching this morning was in the realm of like 20,000 chips from Nvidia and then actually 2,000 additional of their best top of the tier ones, making this company huge. And if you're watching this and you're like, I haven't heard of Northern Data, hey, I was right there with you. It's because it's a German company, which in a certain sense is a whole different market than what I see happening here with CoreWeave and whatnot because it's based in Europe. So that's literally an entirely different demographic. But for those of you watching, especially if you're an investor in Rumble, this is potentially very exciting news, at least in my own opinion as an investor in Rumble myself. But the one thing I would bring up is tomorrow we're going to be hearing from CoreWeave for their earnings. And to my understanding, it seems like Northern Data and CoreWeave are in very, very similar pillars of business. So I can tell you that's going to be my personal homework for the night. And obviously, fingers crossed. I think just as the investing public, we're all excited to know what the next chapter of this particular story will be. So, I don't know, it's exciting times. And like I said, to start this off, and you guys even brought up in your call of what I historically thought was big for Rumble of, oh, did they get these views, the monthly active users, signing the next big name? You're now literally talking about mergers and acquisitions. What a level up in the business. So hopefully this one does happen and I'm sure we're all waiting on that. But outside of that, the fact that you guys are close to, I believe, $300 million in cash and cash equivalents that are at your disposal to try to make these moves time and time again. What an opportunity.
Yeah. And that's kind of the excitement right now, think about how we're going to step on the gas here in the coming quarters. It's, and I alluded to this in the earnings call, it's going to be growth. It's going to be aggressive growth. That's kind of our new mandate now. We want to really, really push on the growth. And the way we see it growing, you know, put the cloud business aside, which I think is very underappreciated in many different ways. And I said that in an earnings call as well. Let's put that aside. We're doing huge RFPs there with governments and large corporate entities and I see a lot of potential there in the coming years. But when you look at what we're doing with Rumble and Rumble Wallet, everyone's thinking, 'Okay, so what is the purpose of Rumble Wallet? Why are we doing the Rumble Wallet?' And they're kind of looking at it maybe in isolation. It's just a Rumble Wallet. But the Rumble Wallet is not in isolation. The Rumble Wallet dovetails perfectly into Rumble, the video platform. It also dovetails perfectly into Rumble Studio. And it also dovetails perfectly for creators. It helps them monetize. And the reason why it dovetails well into the Rumble video platform is this. We want to grow Rumble not just domestically, but we want to grow Rumble internationally. We're now going to be able to offer creators a way to monetize all around the world very easily using the Rumble Wallet. So now you can monetize content on your live streams using the Rumble Wallet. In addition to that, and I think what is really important is the marketing strategy that we are planning currently, right now, on how we're going to execute marketing the Rumble Wallet. So, not only are you going to be able to tap into Rumble Studio and do a read for Rumble Wallet that will generate revenue for you, like if you have a thousand viewers and we offer $100 for the read or $1,000 for the read, you'll be able to generate that revenue through Rumble Studio. So will every other creator. Most other creators will have that opportunity. But we're going to extend that past Rumble. So we're going to start going to creators outside of the Rumble ecosystem on other platforms, on YouTube, on Twitch, and we're going to say, 'Hey, use Rumble Studio, multistream to Rumble, continue streaming wherever you are.' And here's this campaign for Rumble Wallet that you can promote through your stream. And we're going to see Rumble Wallet promoted through all these different platforms by a huge list of creators from large to small. It's going to be a global campaign that will extend past the United States to other parts of the world. And you're going to see this drum beat of creators using Rumble Studio, streaming to Rumble, promoting the Rumble Wallet, and telling their audience, 'Hey, you can tip me in Bitcoin and USDT and Tether Gold.' I think not only will this drive more usage to Rumble, it'll have more viewers on Rumble, you're going to get more live streams on Rumble, and creators are going to make more money on Rumble. So that's kind of how I see it. This is a massive growth strategy for Rumble itself, not just the wallet, but the whole ecosystem of the video platform. And that's what gets our team really, really excited because we're moments away. We're looking to release this by the end of the quarter. So by the end of September, we're looking to making this available to creators to use. And that should, in my opinion, help unleash a new phase of growth for Rumble outside of where we currently are. And that's what's really fun about all of it.
