Bitcoin News Today: Rumble's Crypto Wallet Sparks Debate Amid Illicit Transaction Fears
- Rumble launches non-custodial crypto wallet for tipping, supporting BTC, USDT, and tokenized gold during live streams and videos. - Tether backs the wallet system, enabling multi-asset transactions while users retain fund control, aligning with crypto industry trends. - The platform targets creator monetization and deepens ties with Tether, catering to users rejecting traditional banking systems. - Critics warn the wallet could facilitate illicit transactions on Rumble, known for hosting far-right figure
Rumble, a video streaming service recognized for featuring controversial personalities like white nationalist Nick Fuentes
This integration signals Rumble’s move to expand creator earnings through cryptocurrency. The wallet is non-custodial, so users maintain direct control over their assets, which is a significant advantage in the crypto world. The system also utilizes Tether’s technology to process not only Bitcoin but also tokenized gold and other stablecoins
Paolo Ardoino, CEO of Tether, revealed plans for additional wallet features, such as support for USAT—a stablecoin designed for the U.S. market—and integration with the Lightning Network to enhance transaction speed. The wallet will also feature account abstraction and Paymaster tools to streamline multi-chain operations for users
However, the current trial is restricted to Android users, and the feature’s ability to scale has yet to be proven. Some critics warn that the wallet could be used for unlawful transactions, given Rumble’s association with fringe content. While Tether’s technical backing is significant, it also raises concerns about the company’s role in promoting crypto use on platforms with contentious reputations
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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