TechFlow news — On January 12, according to an official announcement, Stacy Herbert, Director of El Salvador's National Bitcoin Office, revealed that video platform Rumble has reached a cloud services agreement with the government of El Salvador, providing comprehensive services including cloud storage, computing, and databases.
Previously, Rumble secured a $775 million strategic investment from Tether and plans to allocate $20 million of its cash reserves to Bitcoin. Under the investment agreement, Rumble will use $250 million to support growth initiatives, while the remaining funds will be used to repurchase up to 70 million shares of Class A common stock at $7.50 per share. CEO Chris Pavlovski has pledged not to sell more than 10 million shares.
