NIA was wondering for months why exactly Cantor Fitzgerald's Howard Lutnick (Commerce Secretary nominee who we predict is the first member of Trump Admin to be fired) was promoting Tether as a legitimately backed stablecoin and now we know how Lutnick was paid off by Tether. Cantor took Rumble (RUM) public in one of its bucket shop SPAC deals and remained one of its largest shareholders, and Tether is using some of their newly printed dollars to "invest" $775 million into Rumble (RUM) but only $250 million in capital is going to actual RUM. $525 million of it is being used to help existing shareholders like Cantor Fitzgerald "cash out" of RUM at a huge profit.
Cantor most likely got their shares for the equivalent of $2 per share like most SPAC deals and Tether announced it will buy 103.3 million Rumble Class A Common Stock shares at $7.50 per share each. We are in such a bubble environment due to the Fed making the biggest mistake ever and lowering interest rates that RUM actually finished yesterday at $12.68 per share with an enterprise value of 40.52x revenue for a company that saw its monthly active users peak in 4Q 2022.
BTW, Cantor was also in charge of structuring the actual transaction between Tether and Rumble and is collecting huge fees on the transaction. This stuff sickens us a lot and we believe Trump doesn't understand how evil this guy is. Trump did have enough of a bad feeling about him to at least not make him Treasury Secretary.
Preparing Americans for Hyperinflation
